Skip to comments.Obama: Unemployment Benefits "Biggest Boost" To The Economy
Posted on 12/14/2010 10:39:14 AM PST by i88schwartz
"This tax package does a couple of things immediately for economic growth in Florida. Number one, for those folks looking for work right now, it extends their unemployment benefits. Two million people across the country would lose their unemployment benefits at the end of this month if we did not move forward on this tax agreement. And economists say that not only is that good for those families, it's good for the entire economy. It's probably the biggest boost that we can give an economy because those folks are most likely to spend the money with businesses, and that gives them customers," President Obama told Tampa Bay's Channel 8.
(Excerpt) Read more at realclearpolitics.com ...
He continues to validate my tagline.
Since unemployment benefits are so good for the economy, I suggest that we all get fired from our jobs (if we have one) get unemployment benefits and stimulate the economy.
We could become an even richer country than we are now!
I must be stupid, so help me figure this out!
Is he so stupid he really believes this, or does he think we are so stupid we will believe it?
Good, let’s make everyone unemployed! The economy will grow like crazy!
How do you even reason with someone this completely clueless?
It’s like trying to screw your way out of having aids
Scenario A) Unemployed person gets a check, goes to the store and buys food, a magazine and some socks. Does this "grow" the economy? Not a chance. It sustains some existing businesses, at best.
Scenario B) Millionaires keep the money they have worked for. They invest in their own business or in the businesses of others. Factories are built, distribution channels are expanded, exports increase, workforces expand. Does this "grow" the economy? You bet.
The idea that unemployment checks stimulate the economy is something that stupid people say.
I think so, yes.
Maybe he can get Bernanke to load up those helicopters and do some drops.
Frankly, I think they should just raise the minimum wage to $100 an hour and charge 90% tax. Then we can give the unemployed $10 an hour but not tax them. And then the government would take care of our every need with all that tax money and we’d have enough to keep us in Big Macs and WIIs.
I’m sure it would finally usher in a utopia.
Watch him to start chanting that we will have to pass the tax bill, so we can see what's in it.
Boost ? More like Life Support.
Exactly what are people buying with UE to stimulate the economy? I don’t see that it pays more than rent/mortgage and food (if that). He’s as much of an idiot as pelosi.
Good! Let’s shoot Stupid!
Well stated, my friend!
How could it be a “BOOST” to the economy when it only applies to extensions? It would, at best, be the status quo much like the so called “tax cuts.”
Yep, unemployment compensation and payroll (FICA) tax cuts to many who pay no income taxes, all for putting borrowed ‘money in peoples(voters) pockets’ to spend has worked so well before in creating jobs.
Remember this Fred Thompson classic video from late 2008 with his Peter Schiff moment?
Whew. 2 more years of this guy. Stocking up supplies on my sailboat. I doubt the country will make it.
Therefore, governmental disincentives to work or to employ others to work, and governmental incentives to forgo work, will result in less wealth and a weaker economy. Unemployment insurance benefits are a disincentive to work. Some people who receive them and other government benefits will rely on those benefits and not look for work or decline to take jobs that they don't like or that they feel are not adequately remunerative. To the extent that employers are therefore compelled to increase the wages for those jobs, the effect of unemployment benefits is inflationary. To the extent that those jobs are not filled, the economy as a whole is weaker, in that it produces fewer goods and services, and we are all less wealthy.
God help us. We’re ruled by idiots with advanced degrees.
“Its like trying to screw your way out of having aids.”
There are some South African men (less than animals) that believe this can be done.
CAUTION!! Disgusting article.
Quite a coup claiming that the biggest boost to the economy that he can produce is added time on the unemployment checks for out-of-work Amercians, regardless of whether someone on UI for 2 or three years doesn’t have a deeper problem....utterly telling if you ask me. There is no recovery, there is no easing of difficulty - only the need for more largesse to UI recipients, claiming it’s a boost for our economy.....it’s like this money came from out of the blue and wasn’t taken from the rest of us working stiffs.
Good God that is sick
As I've stated in several other threads, I also think that along with ditching a government-run unemployment benefit program, the minimum wage is ought to be abolished. It's a real business killer.
That video of Fred Thompson is brilliant!
Yeah. And sticking your head in a garbage disposal and turning it on will get rid of your cold. Can these people really be that stupid?
Jobs are even better.....you idiot
If I'd have known going to Harvard was that easy, I'd have done it a long time ago.
Don’t forget Leprechauns either, they have a big pot ‘o’ gold to spend.
Total agreement ... the idiocy of our esteemed leaders in frightening.
Worse: Our enemies look at our situation like we're incredibly dangerous morons.
OK. So, let’s all quit and watch the economy soar!
Wow. This man is crackers.
The money to pay for the unemployment results in increased taxes for the small business owners and they lay off workers.
WOOT! nothing rev's up an economy like 20% of the working population on unemployment benefits!!!!
Obama is dumber than a rock.
Oh really? Why don’t we all just quit working and go on unemployment then? Presumably, that would help the economy more than anything else.
The problem is, if businesses start spending and hiring (once they are sure the tax cuts have been extended), the economy will pick up. Unfortunately, Obama will say it is because of the extended unemployment, and stupid people will believe him.
Unemployment does not provide economic stimulus in the conventional sense. When they talk about stimulus of unemployment , they refer not to economic growth but to the artificial support of the economy delaying economic contraction, deflation and additional job losses due reduction in demand from people losing the purchasing power that unemployment benefits provide.
In effect, unemployment has temporarily put the brakes on the unstable downward spiral in unemployment where job loss leads to loss of purchasing power which leads to drop in economic demand which leads to more layoffs resulting in even higher unemployment and increased loss of purchasing power.
If unemployment safety net were cut off, we would get a downward spiral of the economy like the Great Depression.
The fundamental underlying problem here is that the Democrats have squandered our capitol reserves on a destructive economic stimulus package which has destroyed job growth and extended the time needed for an economic recovery. The end result will be increasing unemployment for an unnecessarily long period of time with and increasingly negative impact on the economy.
If more unemployment benefits are the answer, what is the question? Good heavens, I can’t believe this guy is in the White House!!
you gotta remember that where Obama comes from, “boost” is street slang for “steal”
Great video. He didn't sound like either elected party, both party's whose solution to everything is more printing and debt.
He sounded JUST like Peter Schiff who gives those lectures all the time and predicted the housing bubble crash when everyone else was claiming it was real growth:
Obama, Pelosi and Reid are doing their damdest to make that happen.
Saying that poop smells like roses does make it so.
So you’re a Yale man huh?
Now that's a real feather in Zero's cap....
I do a have a Post Graduate Degree in Applied Economics from the University of Hard Knocks.
I am not interested in anymore continuing education from that particular institution