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Report: Extending Jobless Benefits Creates Jobs (Congressional Budget Office)
Associated Press ^ | November 29, 2012 | By SAM HANANEL

Posted on 11/30/2012 3:26:39 PM PST by drewh

Extending the current level of long-term unemployment benefits for another year would add 300,000 jobs to the economy, according to a report from the Congressional Budget Office.

The analysis released Wednesday from the nonpartisan office estimates that keeping jobless benefits would cost the government $30 billion. But it would also lead to more spending by the unemployed, boosting demand for goods and services and creating new jobs.

Federal long-term unemployment benefits are set to expire on Dec. 29 for more than 2 million workers unless Congress approves an extension. Democrats have called for reauthorization of extended benefits, but Republicans generally oppose more jobless aid without additional spending cuts to offset the cost.

‘‘This report is more evidence that extending help to those who are seeking work is a better investment for our economy than extending tax breaks for those resting comfortably atop the economic ladder,’’ said Rep. Lloyd Doggett, D-Texas, a member of the House Ways and Means Committee.

Regular jobless benefits generally last up to 26 weeks for eligible workers who lose their job and are seeking employment. Since the recession began in 2008, the federal government has offered up to 47 weeks of additional benefits.

The CBO report found that for every dollar of jobless benefits that the unemployed spend, there is a $1.10 boost to the economy.

Any deal on reauthorizing some or all extended unemployment benefits is likely to be part of ongoing negotiations over avoiding the ‘‘fiscal cliff’’ tax increases and spending cuts that could send the economy back into recession.

___

(Excerpt) Read more at boston.com ...


TOPICS: Government; News/Current Events; Politics/Elections; US: District of Columbia
KEYWORDS:
probably should have posted a barf alert
1 posted on 11/30/2012 3:26:43 PM PST by drewh
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To: drewh

An immutable law of economics:

You get more of what you pay for.

If you pay people to be unemployed, you get more unemployed people.

Duh.

Libs always turn economics on it’s head in order to justify more government spending and control over your life.


2 posted on 11/30/2012 3:32:20 PM PST by Uncle Miltie (Working is for suckers.)
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To: drewh

Right, and paying off one credit card with another one will eventually get you out of debt.


3 posted on 11/30/2012 3:35:41 PM PST by Huskrrrr
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this is such b.s. if this were true, over the last four years with unemployment rising and benefits rising, and continuning......the job market is still tanking....where do they get this idiotic thinking from???


4 posted on 11/30/2012 3:35:51 PM PST by raygunfan
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To: drewh

Brought to you by the non-partisan CBO...


5 posted on 11/30/2012 3:38:39 PM PST by EEGator
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To: drewh

Would doubling benefits create 600 thousand jobs?


6 posted on 11/30/2012 3:38:46 PM PST by freedomrings69
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To: drewh

Would doubling benefits create 600 thousand jobs?


7 posted on 11/30/2012 3:38:46 PM PST by freedomrings69
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To: drewh

“boosting demand for goods and services and creating new jobs.”

So if everyone applies for and gets unemployment, that will create more jobs. We’ll have full employment and the economy will roar.

After reading this garbage, I’m convinced more than ever that we need to either float these leftists to North Korea or bury them in mounds as ant food.


8 posted on 11/30/2012 3:40:42 PM PST by sergeantdave (The FBI has declared war on the Marine Corps)
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To: All


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9 posted on 11/30/2012 3:41:00 PM PST by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: drewh

We live in very depressing times. Anyone with common sense should know this is not possible. Sadly, there is a serious lack of common sense.


10 posted on 11/30/2012 3:42:44 PM PST by Codeflier (Bush, Clinton, Bush, Obama - 4 democrat presidents in a row and counting...)
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To: drewh

I have always been for unemployment benefits. Even extended during long downtimes.

However, to say they ‘create’ or even ‘save’ jobs is nuts.


11 posted on 11/30/2012 3:42:44 PM PST by Monty22002
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To: FReepers; Patriots

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12 posted on 11/30/2012 3:47:17 PM PST by onyx (FREE REPUBLIC IS HERE TO STAY! DONATE MONTHLY! IF YOU WANT ON SARAH PALIN''S PING LIST, LET ME KNOW)
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To: drewh

Each putative job is estimated to cost taxpayers $100,000. Seems as if there’s a lot of wild ass guessing going on.

(In best Ernest Hollings’ voice:) There’s too much Waggin’ goin’ on out dere.


13 posted on 11/30/2012 3:51:20 PM PST by Ole Okie
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To: drewh

We can’t pay for unemployment based on the unemployment tax we already have. If unemployment is such a problem, let’s raise the unemployment tax. I’m tired of all this hidden taxing and spending. You want to pay unemployment for forever? Then take it out of the workers paychecks with the unemployment tax. You’ll find out real fast how liberal those Democrats are when their paychecks take a cut.


14 posted on 11/30/2012 4:01:08 PM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: drewh

this is bull crap, they know its bull crap and they know that we know that they know its bull crap. They act really stupid in hopes they don’t get their heads handed to them when the SHTF, and it will and they will.


15 posted on 11/30/2012 4:04:34 PM PST by drypowder
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To: drewh

There are producers and there are users. Politicians are users, and have never understand producers. With their logic, we can destroy producers to make more users to infinity.

Or in other words, the way to riches is to burn our cash in a trash barrel, because the trash company will hire a new guy to haul ashes.


16 posted on 11/30/2012 4:08:31 PM PST by American in Israel (A wise man's heart directs him to the right, but the foolish mans heart directs him toward the left.)
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To: drewh
remind me again...why We the People have to pay anything for a deluded pack of bureaucratic functionaries calling themselves “The Congressional Budget Office”?

Bearing in mind, of course, that Congress hasn't produced a budget in three years?!!!!

17 posted on 11/30/2012 4:17:42 PM PST by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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To: raygunfan
this is such b.s. if this were true, over the last four years with unemployment rising and benefits rising, and continuing......the job market is still tanking....where do they get this idiotic thinking from???

Alfred Keynes..the patron saint of stupid economists and Marxists.

18 posted on 11/30/2012 4:26:52 PM PST by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
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To: Huskrrrr; drewh
Huskrrrr,
Don't be so negative. The Federal Government doesn't only won there own credit card company...they also kind of own the money print presses...what could go wrong?
19 posted on 11/30/2012 4:31:44 PM PST by Red Dog #1
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To: drewh

Hurricane Sandy was great for construction jobs. And if it doesn’t rain in the midwest, all commercial traffic on the Mississippi will be halted. That would be great for the trucking industry. /s


20 posted on 11/30/2012 5:09:05 PM PST by SC_Pete
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To: Huskrrrr
Right, and paying off one credit card with another one will eventually get you out of debt.

Um, I had debt on two credit cards, paid off one with the other and now that card has a $0 balance; so it must be working. Now I just need to get another card to pay that remaining one off.

/s tag for the sarcasm impaired.

21 posted on 11/30/2012 5:23:24 PM PST by Repeat Offender (What good are conservative principles if we don't stand by them?)
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To: drypowder
They act really stupid in hopes they don’t get their heads handed to them when the SHTF

I'm not sure they're acting.

It's hard to believe but the belief in the theory that government spending helps the economy runs deep in most of the country. I'd agree that it shows a lack of intelligence but not necessarily a lack of sincerity.

22 posted on 11/30/2012 5:30:43 PM PST by BfloGuy (Workers and consumers are, of course, identical.)
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To: drewh

300,000 jobs? That is all? Not worth it. Obamugabe and his court jester Biden said we’d be creating 500,000 jobs A MONTH by now.

300,000 “jobs” in a year for extending unemployment benefits isn’t a deal.

Shove it, Obmaugabe...unless of course you’re willing to CUT entitlements (not defense) at the same time.

Let’s start with food stamps. And Obamaphones.


23 posted on 11/30/2012 5:32:28 PM PST by SoFloFreeper
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To: Red Dog #1

Ha!


24 posted on 11/30/2012 6:04:08 PM PST by Huskrrrr
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To: drewh

Ponzi scheme!


25 posted on 11/30/2012 7:26:06 PM PST by bolobaby (Hostess closes? Atlas just shrugged in yo' faces, union beyotches!)
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To: drewh

If we could just get 100,000,000 people on unemployment (not so far fetched with the Food Stamp President in office), the economy would really take off. CBO would have to work overtime to calculate the billions of jobs that would be created and trillions of dollars generated in goods and services to sustain them. Maybe we should fire those geniuses at CBO so that they have to get a real job. With their expert level of economics, they should easily transition to high level positions in private industry.


26 posted on 11/30/2012 7:54:03 PM PST by RetiredTexasVet (The law of unintended consequences is an unforgiving and vindictive b!tch!)
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To: drewh
The analysis released Wednesday from the nonpartisan office estimates that keeping jobless benefits would cost the government $30 billion. But it would also lead to more spending by the unemployed, boosting demand for goods and services and creating new jobs...or we could just leave the money with the taxpayers, including the extra two billion or so the bureaucrats would take off the top for "processing" the benefits and paying them out, and let the taxpayers spend the money instead in the private sector, which would also boost demand for goods and services and create jobs - let's give it a try......
27 posted on 11/30/2012 9:21:48 PM PST by Intolerant in NJ
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To: drewh

And Obama says the Republican math doesn’t add up for spending cuts...


28 posted on 12/01/2012 4:29:54 AM PST by trebb (Allies no longer trust us. Enemies no longer fear us.)
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