Would not directly incentivizing corporations to hire in America been a more effective prescription than simply slashing rates? Unemployment HAS steadily decreased over the past decade, but I continue to observe the erosion of the middle class, so this is clearly not a standalone solution.
I suppose it comes down to whether or not one believes income disparity is actually a problem.
Advancing technology and the resulting diminished need for labor is really the elephant in the room. And I know, SOCIALISM!