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Slowing down the glacial pace

December 6, 2010

Today President Obama said

We should also extend unemployment insurance for workers that lost their jobs through no fault of their own,” Obama said. “I should mention that is not only the right thing to do, but the smart thing to do,” he added.

“If millions of Americans who aren’t getting unemployment benefits stop spending money that slows down businesses, that slows down hiring…

What hiring?  Hot Air

U.S. employment increased far less than expected in November and the jobless rate jumped to a seven-month high of 9.8 percent, dampening hopes for a self-sustaining economic recovery.

So…..given there is no recovery exactly how does not extending unemployment benefits prevent anything other than prevents people accepting jobs instead of taking advantage of the lengthy taxpayer funded time off? This quote reads like a re-inflate the bubble fantasy and not a recognition of structural changes in the economy. That explains a lot because it’s the only context the “tax the rich more’ strategy makes sense.

From Pajamas Media

I’d have a lot more respect for Obama if he came out and said, “You know all that stuff I said about doing everything possible to create good jobs here at home and get this economy moving again? Well, never mind.” (Ken Salazar)

Yeah, me too. Give me an honest thief over one who expects me to thank him for his generous intentions with the money he removed from my pocket at gunpoint. I at least keep some self respect that way

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One Comment leave one →
  1. ellend permalink
    December 6, 2010 8:58 pm

    I know at least one business owner who said they could not hire qualified applicants baecause of extended benefits. At least one interviewed admitted he wasn’t seriously looking because he could live comfortably on unemployment. So much for the theory that people would rather be gainfully employed.

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