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VIDEO: Pelosi: Extending jobless benefits will “make a difference of 600,000 jobs”
Hotair ^ | 12/16/2011 | Ed Morrissey

Posted on 12/16/2011 1:09:55 PM PST by SeekAndFind

Via CNS News and our friend and Townhall colleague Greg Hengler, Nancy Pelosi lectured America on macroeconomics yesterday by insisting that an extension of unemployment benefits would “make a difference of 600,000 jobs to our economy.” Greg recalled a similar claim from Pelosi about ObamaCare, and adds it to the end of Pelosi’s claim from yesterday:

“Christmas is 10 days away,” said Pelosi at a press briefing on Capitol Hill today. “The president and Democrats in Congress have been very clear. We’re not going home without enacting a payroll tax cut for America’s working families and extending unemployment insurance for millions of Americans.”

“The payroll tax cut that the president proposed would put $1,500 in the pockets of 160 million Americans,” she said. “The unemployment insurance extension is not only good for individuals. It has a macroeconomic impact. As macroeconomic advisers have stated, it would make a difference of 600,000 jobs to our economy.”

Pelosi did not name those “macroeconomic advisers.” She continued: “Again this is important because this is about the safety net not just for these individuals, but for our economic system that, in times of unemployment, we have a safety net and that is important.”

“Again, [not only] a safety net for individuals, but a safety net for the economy,” she said, “and again this money when received is immediately spent, it’s urgently needed, and injects demand into the economy, creating jobs.”

This is a fairly testable hypothesis. The last time Congress extended the jobless benefits was a year ago, in another crunch-time compromise between Republicans and Democrats on Pennsylvania Avenue. Since then, the economy has added about 1.5 million jobs — an average of 125,000 a month, which is only enough to keep up with population growth. Assuming that Pelosi’s correct and we subtract 600,000 from the 2011 numbers, the Obama adminstration’s economic policies would account for growth that falls well below that of population maintenance — at only 75,000 per month.

The number and the claim is absurd. Whatever short-term economic benefit arises from giving benefits to the unemployed is not enough to generate enough marketplace demand to create 600,000 jobs, nor would its absence be enough to eliminate 600,000 jobs, either. Its absence would probably force the long-term unemployed into part-time and low-paying jobs to maintain themselves, which would not only service much of that same demand, it would also not take capital from the future — where its absence will cost jobs. There are social and humanitarian reasons for providing unemployment benefits, but job creation and economic growth are not among them.

At least, though, we can say that the deal Pelosi makes here is much better than ObamaCare. That will cost $2 trillion in its first ten years, according to the CBO, which works out to five million dollars a job. Sheesh! Even Obama’s green-tech boondoggles have a better price-per-job than that. With the proposed extension of jobless benefits expected to add $44 billion, that works out to $110,000 per job … which is still a ridiculous figure, and shows why capital is used more efficiently when left in the marketplace.

CLICK ABOVE LINK FOR THE VIDEO



TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: benefits; jobless; pelosi; unemploment

1 posted on 12/16/2011 1:10:03 PM PST by SeekAndFind
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To: SeekAndFind

Nancy’s delusional. She equates the government paying people as salaried employees.


2 posted on 12/16/2011 1:12:24 PM PST by cotton1706
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To: SeekAndFind

You have to look real hard to find someone this stupid.


3 posted on 12/16/2011 1:13:26 PM PST by TSgt (Suppose you were an idiot and suppose you were a member of Congress. But I repeat myself.)
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To: SeekAndFind

Well.....I’ll give her credit for surpassing the ridiculousness of “pass the bill to see what’s in it.”


4 posted on 12/16/2011 1:14:36 PM PST by edpc (Wilby 2012)
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To: SeekAndFind

Everytime her mouth opens a devil gets a pitchfork.

LLS


5 posted on 12/16/2011 1:16:10 PM PST by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: TSgt

RE: You have to look real hard to find someone this stupid.

I thought San Francisco was the high IQ center of America with all of its high tech companies, etc.

How is it that they could vote her in year after year?


6 posted on 12/16/2011 1:16:20 PM PST by SeekAndFind
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To: SeekAndFind

Nancy Pelosi is like Colonel Kurtz...

....”Every man has got a breaking point. You and I have. Walter Kurtz has reached his. And very obviously, he has gone insane.”....

“Yes sir, very much so sir. Obviously insane.”


7 posted on 12/16/2011 1:19:25 PM PST by astounded (Barack Obama is a clear and present danger to the USA)
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To: SeekAndFind

This evil witch feels she is entitled to lie due to her advanced age. She will tell any damn lie she pleases. I have seen other nasty senile moonbats up close and personal...Power goes to their heads and they lie lie lie and they get intoxicated making unfounded accusations.

With age does not come wisdom....for some people. Even some relatives of mine.


8 posted on 12/16/2011 1:20:18 PM PST by dennisw (A nation of sheep breeds a government of Democrat wolves!)
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To: SeekAndFind

This is like the woman who claimed she worked hard at standing in line to collect her welfare checks. That was her job.


9 posted on 12/16/2011 1:26:09 PM PST by pallis
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To: astounded

I watched a snail crawl along the edge of Obamacare. That’s my dream; that’s my nightmare.


10 posted on 12/16/2011 1:27:53 PM PST by edpc (Wilby 2012)
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To: SeekAndFind
Pelosi: “Viagra will create 600,000 virgins.”
11 posted on 12/16/2011 1:31:38 PM PST by Happy Rain ("Having A Communist Joke In The White House Takes Graveyard Humor To New Heights.")
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To: SeekAndFind

Well, in lib-speak, she makes sense.

If 1,200,000 eligible workers are drawing unemployment etc, that means 600,000 illegals can get a job, so in effect ‘we’ just say 600,000 jobs filled.

Much like WJC and his “There is no difference in Retired Military, Retired Government, Social Security recipients and people on welfare”.
They are all drawing a check from the government so quit picking on the welfare types.

AND
(one of his greats)

All you people that voluntarily enlisted in the Navy and Marines and Air Force in the 50’s and 60’s are actually draft dodgers because you didn’t want to face the draft.


12 posted on 12/16/2011 1:40:49 PM PST by xrmusn ((6/98) History will treat me well - I intend to write it. W. Churchill)
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To: SeekAndFind

Is this subhuman truly this stupid or is she simply counting on the ignorance of her constituents to propel her into office once more.
If it weren’t for the damage she manages to bestow on all our lives, you could color me amused.


13 posted on 12/16/2011 1:45:23 PM PST by formosa (Formosa)
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To: SeekAndFind

This delusional idiot is the “Poster Girl” for how chronically ill liberals really are. It’s incurable, it’s debilitating, it’s dangerous to the rest of us. They belong locked up in a state mental institution which is where they’d be 50 years ago. They definitely do not belong in our government. Just goes to show you how bad it has become.


14 posted on 12/16/2011 1:48:14 PM PST by lgjhn23
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To: SeekAndFind

Sicko Nancy tying to make herself important.


15 posted on 12/16/2011 1:49:39 PM PST by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: TSgt
"You have to look real hard to find someone this stupid."... Not real hard...
16 posted on 12/16/2011 1:52:40 PM PST by AngelesCrestHighway
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To: SeekAndFind

Is Nancy smoking crack?


17 posted on 12/16/2011 1:56:15 PM PST by The Great RJ ("The problem with socialism is that pretty soon you run out of other people's money" M. Thatcher)
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To: SeekAndFind

Frightening. That a woman of this vacuousness could rise to a position of “leadership” is frightening. A neutrino could enter her left temporal, exit her right temporal and encounter nothing in transit. It certainly speaks well of the Democratics. sd


18 posted on 12/16/2011 2:16:06 PM PST by shotdog (I love my country. It's our government I'm afraid of.)
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To: SeekAndFind
She meant to say 600 BILLION jobs!
19 posted on 12/16/2011 2:44:28 PM PST by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: LibLieSlayer
Everytime her mouth opens an angel groans.
20 posted on 12/16/2011 2:46:00 PM PST by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: LibLieSlayer
*Everytime her mouth opens a devil gets a pitchfork.*

Everytime her mouth opens the grandpa angel from Family Circus moves farther away from the Earth.

21 posted on 12/16/2011 2:52:43 PM PST by PATRIOT1876 (The only crimes that are 100% preventable are crimes committed by illegal aliens)
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To: SeekAndFind
Pelosi: Extending Unemployment Benefits Would Create ‘600,000 Jobs’

That won't help much, Nanzi, when we're losing 500 million jobs per month.

House speaker Nancy Pelosi predicts job losses for babies

Basically, Pelosi says that if legislators don't move quickly to pass President Barack Obama's stimulus package, "500 million Americans lose their jobs". According to her, this sobering scenario will occur every month without proper government action.


22 posted on 12/16/2011 3:12:10 PM PST by TigersEye (Life is about choices. Your choices. Make good ones.)
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To: astounded

My all time, favorite movie. The redux version finally ties all of the pieces together from the original release. “What do you know about surfing, Major? You are from GD New Jersey.”


23 posted on 12/16/2011 3:16:52 PM PST by Capt_Hank (btu's...kcal's...to kJ's, but my activation energy is still high.)
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To: PATRIOT1876

Both true!

LLS


24 posted on 12/17/2011 4:13:30 AM PST by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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