Representative Nancy Pelosi (D. Ca.) made that statement several months ago. Now, Presidential Press Secretary, Jay Carney, in a recent press conference, is jumping on the same band wagon. The theory goes that if someone who is unemployed receives a payment from the government, they will spend it, thus boosting the economy and creating jobs. Let’s analyze that. Read more
The President left people with the impression last night that the deal included an extension of unemployment benefits for another 13 months. A caller on our show, Paul, called late to say that that was incorrect but couldn’t source the material for us … so what’s a person to do? Well the labor department has been working overtime to correct misconceptions, which I unfortunately contributed to. And, unbelievably, it is not really that complicated, leading me to believe the WH was perfectly happy leaving folks fuzzy on details. Read more
Once again Neil nails it as only he can. To put his commentary into perspective, on Wednesday 30,000 people showed up clamoring for public housing. Yesterday people who have been on unemployment for 99 weeks protested in New York, demandin an extention of their benefits another 20 weeks. The government is considering another housing bailout, no interest loans for homeowners who are facing foreclosure. On and on it goes. Neil is worried. My mom is worried. Read more
The House voted this week to extend unemployment benefits another 13 weeks.
If approved by the Senate, it would be the fourth time Congress has extended federal jobless benefits since the recession began in December 2007.
The latest 13-week extension would be available to residents in the 25 states that have had an average jobless rate of at least 8.5% for three months – about 70% of the U.S. population House Democrats said
So who pays? Well most people think its the Government, but in fact businesses pay dearly when workers are laid off and forced to apply for unemploment insurance. It generally ends up in higher UI insurance premiums for, not just that business, but when faced with today’s unemployment rates, all businesses. But that’s the long answer. Here’s the short one and its classic Ben Stein.
Remind you of anyone else?
Some consider him to be the Republican party’s next great leader … perhaps President. Louisiana Governor Bobby Jindal. When you hear him in this clip explain what he would do to stimulate the economy … and why he will not take most of the stimulus money … you’ll understand why.
Jindal also took issue with today’s summit on the budge deficit . Says Jindal, addressing the deficit after spending a trillion dollars is like closing the barn door after the horse is gone.