Posted on 07/20/2010 5:47:29 AM PDT by MichCapCon
With the expected appointment of an interim Senator in West Virginia, Democrats in Washington are hoping to push through an extension on unemployment benefits. Under current law, benefits run out after 99 weeks (up from a previous record high of 65 weeks in 1975).
There's valid argument that a compassionate society with a dynamic economy should provide unemployment benefits, and a legitimate debate regarding how much and how long. But recently, some have gone beyond this and argued not only that these benefits are necessary, but that they actually stimulate the economy.
Most notably, White House Economist Lawrence Summers claims that not extending the unemployment benefit beyond almost two years would cost the U.S. economy $10 billion and 100,000 jobs.
Some center-left economists have calculated that Michigan will miss out on $205.6 million in "economic stimulus." And columnist Jackie Headapohl writes on Mlive.com that, "Unemployment insurance puts money in the pockets of the families most likely to spend the money — which in turn expands the economy and creates jobs."
So is this accurate? Does government money in the form of unemployment benefits expand the economy?
(Excerpt) Read more at mackinac.org ...
Yes indeed. My husband and I have been unemployed for a little over a year. We spent all of our savings trying to start a business and failed due to poor timing (buying had stopped at that time.) We lost everything. It all went into the economy.
Last month a venture capitalist we had contacted before, finally gave us a call. We were up and running in two days. Within 3 months, we will have paid more taxes than we took in unemployment. If it hadn’t have been for unemployment, we would have been in a homeless shelter, another home to add to the repo number, and still sucking soup in the line.
You idiots that think people should starve in this economy... hard-working people, such as this family, that if the truth were known probably paid more taxes in our lifetime than some of you “produced” disgust me. You are green with envy that some of us have suffered with the measly check we received once a week that just barely kept us afloat so that we could get back on our feet.
At least I have the satisfaction of knowing we made it... and many of you will be getting your just deserts someday.
No. Next question?
But what really frosts my cupcakes is that so many people in positions of leadership do not accept the simple truth that socialism is an utter and epic failure.
I’m with you. There’s ivory tower types all over here saying unemployment benefits are ruining their lives. Well, if they gotta ever really need them they’ll have a quick change of heart.
I’m suffering through similar dumps now, but I’ve mostly worked for 13 years fairly well except for awhile after 9/11 when the tech sector bombed here.
Also, I don’t think it’s supposed to be a ‘stimulus’. That was really stupid for Pelosi to say in general. It’s a lifeline, plain and simple.
I was on U.I.once for ten weeks.In that time I did nothing to stimulate the economy. I used the money for paying bills and buying absolute necessities.No one on UI thinks, or should be thinking, about a new dishwasher, gas grill, trip to the Cape or anything that is not a necessity. Buying hamburger,pasta, toilet paper, and soap is not going to jack the GDP in any meaningful way. This argument for continuing UI past 99 weeks is not only arguable, it’s completely bogus.
They aren’t arguing for past 99 weeks now, when you see ‘tier 5’ mentioned that’ll be past 99 weeks. This stuff going on right now is just to fund tiers 1-4 which only cover 26-99 weeks still.
“You idiots that think people should starve in this economy... hard-working people, such as this family, that if the truth were known probably paid more taxes in our lifetime than some of you “produced” disgust me. You are green with envy that some of us have suffered with the measly check we received once a week that just barely kept us afloat so that we could get back on our feet.
At least I have the satisfaction of knowing we made it... and many of you will be getting your just deserts someday.”
I understand you and millions of others are/were in a difficult situation. We have a well established UI system to provide some level of help during difficult economic times. The issue is not the basic UI system but the seemingly endless extensions at least for some.
I believe that these extensions are bad policy. Of course, we have a government running on bad economic policies. The bad policies are feeding the unemployment problem. These extensions are morphing into a huge new welfare program essentially a job or paycheck entitlement program. Extensions to UI encourage recipients to stop looking for work. You are undoubtedly not in that category but many others are gaming the system. We cannot afford a costly new entitlement program. Government cannot provide a paycheck entitlement.
Your story may be nice but it still represents theft from the producers and transfers it to non-producers.
Explain to me how it is that in any other time, the standard benefit for unemployment insurance is 26 weeks? Why should that be extended to 52, 99, 126 weeks for anyone? Will future recipients be entitled to 126 weeks?
I am tired of having a gun jammed in my ribs and the product of my labors stolen from me to serve some noble purpose like providing you and others like you with food, fuel, or whatever.
I have worked every day from the age of 17 and NEVER, EVER, collected unemployment in 30+ years of working. Went to college at night and worked two to three crappy jobs simultaneously to make ends meet in some pretty unattractive places that you would never think of going doing work that you would never think of doing.
But to you, I’m just a big meanie and a meal ticket.
I do think people should starve. It would teach them to plan better. Yourself included.
Your business’ failure was yours, timing included. You continued to throw your savings into a failing enterprise instead of cutting your losses and using those savings to cover your living expenses. You gambled your savings and lost, and you expect the taxpayers to prop you up.
Yeah, I’m green with envy alright. /sarc.
As for my just deserts, I have them every day because I earned them myself, not from some venture capitalist.
“Explain to me how it is that in any other time, the standard benefit for unemployment insurance is 26 weeks? Why should that be extended to 52, 99, 126 weeks for anyone?”
That should be easy to figure out. During high unemployment times and recessions the time to find the next job gets a lot longer on average. Your attitude stinks btw. Might as well say you inherited all and screw you. In this current depression, nobody’s safe unless you’ve made it big and have very safe assets.
Asking that obvious question makes me wonder about your boasting on the other topics.
Yeah, my attitude stinks.
Again I ask, why should that be extended to 52, 99, 126 weeks for anyone?
I inherited nothing. Through my own initiative, hard work and perseverance I have acquired a comfortable life that is as secure as I can make it.
I have been in literal poverty, sleeping in my car and doing dangerous work that most people would never consider doing. Working nights, weekends, going to school simultaneously, with ZERO days off for months at a time doing it for years. Not boasting, simple fact.
At this point U.I has become a wealth transfer, and not insurance.
Hang in there. Start a business selling something that is needed in this economy. Don’t let the nasty people get you down and just keep plugging along, no matter how long it takes. The nasty people have no idea what it is like to have lost everything and the humiliation one feels at having to hold out one’s hand for help. To hear them tell it, we are all lazy people, partying and playing on all that money that wouldn’t even make my house payment. They are fools.
I will say this much, that people here do need to know, we received much better health care when we were “poor” than when we had insurance... all for free. Being uninsured, if at 200% of poverty level or below, is a pretty darned good deal (For a family of 4, that is $44,100/yr after deductions on your federal income tax.) Even more amazing, it was the more competent health professionals that did this (something in low supply in Eastern TN.)
It boggles my mind that people are screaming about not having health insurance. Google is their friend. Or call their local health department that will give them a long list of docs, dentists, and the like that will treat the poor for free. Having to sit in the ER to receive healthcare is a myth that those of us who have always been paying worker bees have believed. We were shafted on Obamacare even more than I realized and I now understand why those left uninsured weren’t a big deal to the Obamanutters.
26 seems about right in a normal economy. In this one, I honestly have to say 99 weeks cause the market’s that bad everywhere.
I bet you wouldn’t be able to have pulled out of that poverty during this depression like whenever you did in the past. I’m sure there’s other stuff in the fed budget that is truly a waste that costs you a crapload more. Like Republican passed medicare prescription plan perhaps.
Seems like you’re doing well for yourself. Throw the people that have been working and got crushed by the banks and goldmans and other wallstreet scumbags that killed off the economy. We sure threw them a done 20x bigger in the past year.
I keep seeing people make this same idiotic claim, or similar versions thereof... and quite frankly, it's bullshit. With all due respect to fellow freepers, being dependent upon less than half of what you 'were' making before being laid off is no damned disincentive to find another job. There are no jobs because nobody's hiring. Nobody's hiring because we have g-damned commies running/ruining the country, and quite deliberately so.
So all you people that keep bleating this same tune better wake up and smell the reality. If you're lucky enough to be one of the few that still do have a job, be aware. It could be you that's laid off next and you could be the one sitting there, desperate and in despair, through no fault of your own, wondering where you'll be living two months from now...cause it sure as hell won't (or can't) be the same place you've lived for the past 12 years...cause you don't have the money for the rent.
And for all you "compassionate conservatives" (now I know where the lefties get that term)....that are either retired comfortably on pensions or 401ks...or even those that are on social security and don't have to worry about where that next check is coming or when....think again. The more people out of work, the LESS money is going to pay for your social security. This thing is going to get even uglier before it gets better. Even you on nice fat 401k retirement funds better worry. You're the last vestige of ""wealth"" the commie aholes have now. And they're coming for you next.
So yeah... keep making those noises about fiscal responsiblity and concern over the debt and all the other things that sound right for our side and under normal conditions ARE right. But these aren't normal conditions. Not even close. People are losing their jobs, their homes and everything they had these days, some after already selling off their personal possessions just to put food on the table.
So stop and think a minute (or at least try) the next time before you spout off about the unemployed. Think of this....there but by the grace of God go you. Don't be an Angle, obtuse or otherwise.
Unemployment benefits just allows the government to avoid trying to solve the problem, and it keeps the sheeple happy for awhile, they know if they stopped the benefits, they would storm the gates.
You’re not in the real world, John. That much is obvious.
Out of curiosity, what do you do for a living and how old are you?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.