As reported by the NY Times yesterday, Obama and Romney are pointing blame at each other for the lack of jobs here at home.
Unfortunately, the reality is that there is no single “silver bullet” solution to high unemployment. That said there are many individual actions that can be easily taken that would each, in and of themselves, be impactful. Let me share one:
Require U.S. collection companies to exclusively use U.S. employees when collecting debts incurred within the U.S.
This one reasonable, common sense solution would repatriate easily over 100,000 jobs that are now coming from outsourced cheap labor overseas. Even better, it could be done without any legislation or regulation at all. All that would need to happen is banks and other firms who use collection companies, just require those companies to use a U.S. labor force.
Clean. Easy. Simple.
The resistance will not come from the banks and other firms that use collection companies. In fact, they’ll almost be unanimously in favor because their customers are beyond aggravated by being contacted by foreigners that they can barely understand.
Yes, however, this would require debt collection firms like mine to incur significantly higher labor costs. We’d just be forced to run our operations that much more efficiently. Not impossible. And, isn’t that small sacrifice worth it to help put millions of our fellow citizens back to work?
I think it is.
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