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12/1/2010
Pay-as-you-go for unemployment? How absurd
Chris Liebenthal does a quick regurgitation of the arguments of the left on extending unemployment compensation. The argument (and countless like it) demands a rejoinder.
“We have a bunch of Republicans that are saying they will only agree to the extension if it is tied in with the extension of the Bush tax cuts.”
Absolutely not true. We have a bunch of Republicans saying the same thing they said the last time 99 weeks worth of unemployment compensation needed extending. PAY FOR THE PROGRAM. That’s all we ask. PAY FOR THE PROGRAM.
Senator Reed’s (D-Rhode Island) answer? We’ve never done it that way. Geeesh.
(From The Hill)
During debates on past extensions, Republicans have pushed to pay for extended unemployment benefits, including using unspent stimulus money. Democrats have argued that extending the benefits has historically been considered emergency spending and say offsetting them negates their economic stimulus factor.
Then there’s this oft-repeated factoid from Liebenthal:
The facts are simple, when an unemployed person receives his or her check (national average being around $300), he or she is much more likely to spend that money on things like food, gas or to pay some bills.
I’ve heard the numbers countless times. Something like a dollar paid in unemployment recirculates to achieve $1.60 worth of stimulus effect. So why is it such a problem to Democrats to spend already committed but unspent stimulus money on what would supposedly create a comparatively huge stimulus effect?
(Lance provides his own rejoinder to the "it will be spent on groceries" argument.)
To my mind, Keith Hennesey (explains and) provides the answers.
- Congress should extend unemployment insurance benefits as long as the unemployment rate is above 8%. I would extend the law for six months and then reevaluate.
- Congress should offset the deficit increase from this new spending by cutting an equal amount of spending, effective three or more years from now to remove the silly anti-stimulus argument.
- Congress should allow States to instead use the additional funds to experiment with personal reemployment accounts for those who are hardest to reemploy.
I just don’t get it. Dems, quit your whining and move forward with the GOP. Be responsible. Pay for the extended, controversial program, darn it.
Jo Egelhoff, FoxPolitics.net
COMMENTS
I just don’t get it. Repubs, quit your whining and move forward with the Dems. Be responsible. Pay for the extended, controversial program, darn it.
I understand your frustration. It goes both ways. The Republicans are widely know as the party of No.
Dean Weichmann (Wed Dec 01 05:42:29 2010)
PAY FOR THE PROGRAM??? Are you talking about the extension of tax breaks for the wealthy, which are estimated to cost $800 billion? Or is that okay?
Oh, those will create jobs!!! Or will they? Where are all of the jobs Bush created with the original tax cut for the wealthy? Oh, you say, they are in China and India!!!
Jo, you must at some point recognize that the elitists and their bribed politicians are raping our country. Do something about it!
Jack Lohman (Wed Dec 01 07:26:23 2010)
>>>a dollar paid in unemployment recirculates to achieve $1.60 worth of stimulus effect. So why is it such a problem to Democrats to spend already committed but unspent stimulus money on what would supposedly create a comparatively huge stimulus effect?<<<
You already have the answer!!!
>>>offsetting them negates their economic stimulus factor.<<<
Dean Weichmann (Wed Dec 01 08:49:04 2010)
I wonder how many of you realize that people who are retiring are able to collect unemployment.
I have two guys working part-time for my municipality who retired last year. They have no intention, since they've retired from long careers with a private employer, of going back to work. Thanks to the "unemployment stimulus" they've been getting unemployment compensation the whole (extended) time.
Somehow I don't feel very stimulated when I write the checks out of the taxpayers' checking account to cover their extended paid vacations.
Duke (Wed Dec 01 09:38:13 2010)
Are you kidding me? How does that work Duke? Can the municipality challenge an unemployment claim from someone who is also pulling retirement benefits?
Jo (Wed Dec 01 09:42:54 2010)
I imagine they are in their 50's. Government retirees should not be able to collect retirement until they are 65.
Jack Lohman (Wed Dec 01 09:53:58 2010)
As well, this whole issue of paying people to not work (or cleaned up, when they can't find a job) should be revisited. Indeed we should pay for them to retrain in a field that cannot be outsourced, or if they reject that we should re-institute Roosevelt's WPA and pay people for performing needed work (even sweeping and shoveling sidewalks). But cash for not working is not a wise investment.
Jack Lohman (Wed Dec 01 10:00:50 2010)
I agree Jack, as always the devil is in the details though.
Dean Weichmann (Wed Dec 01 10:08:12 2010)
Gee, it sure would be better to pay people for construction of HSR or other infrastructure than unemployment.
So why oppose stimulus that goes to improvements?
Dean Weichmann (Wed Dec 01 10:37:49 2010)
I imagine they are in their 50's. Government retirees should not be able to collect retirement until they are 65.
Jack Lohman (Wed Dec 01 09:53:58 2010)
You must have missed the part where I said,"...they've retired from long careers with a private employer."
Duke (Wed Dec 01 10:43:26 2010)
I did miss that Duke. Are they under 65 and still getting SSI? Or is it a private retirement account (that seems to always be protected by us taxpayers).
Jack Lohman (Wed Dec 01 10:58:08 2010)
When I hear that $1.00 unemployment produce$1.60 in stimulus to the economy, I can not help but think about a perpetual motion machine. We should then increase the unemployment pay higher and we could then reduce our our national debt. There would be so much added money we would have to burn it when all our debt is paid off. I know this money has stimulated the Chinese economy.
Don Murrow (Wed Dec 01 12:39:12 2010)
Are you kidding me? How does that work Duke? Can the municipality challenge an unemployment claim from someone who is also pulling retirement benefits?
Jo (Wed Dec 01 09:42:54 2010)
I tried that and got a rather complicated and in-depth description about how the UI system works from some bureaucratic aparatchik in the People's Republic of Madison. My main concern at the time was that we were paying into their unemployment, and we didn't even lay them off!
As a matter of info, municipal governments don't maintain a UI fund like a business does. We get billed periodically to pay-in a portion of the person's benefit based (I think)on what portion of their income is provided by us.
One of the guys is 70 years old, and the other is 64. To answer Jack's question, I don't have that information and can't get it. I make the assumption with the 70-year old guy that he gets SS and whatever retirement plan the concrete company signed him up in when he started with them 30 years ago.
Duke (Wed Dec 01 13:55:17 2010)
Hell, I'm 73 and on SS. Can I claim unemployment too?
Jack Lohman (Wed Dec 01 16:23:37 2010)
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