Bring back jobs if you want a recovery. Unemployment won’t do squat for the economy. I know first hand how it works. My husband was off for 6 months and it paid a lot less then what he could make working. So all we paid were essentials which leaves nothing to spend on anything else. And that does absolutely nothing for the local economy.
No. In my best Walter Williams voice:
I am employed now. I pay bills, mortgage, eat, utilities, entertainment, etc.
Now, I'm unemployed receiving unemployment benefits. I eat.
Unemployment benefits do not expand the economy. Actually, considering government debt, and interest payments, unemployment benefits contract the economy.
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1.The private sector is the productive sector of the economy.
2. The government (public) sector is the non-productive sector of the economy.
Taking money from the productive sector and spending it in the non-productive sector diminishes economic growth.
Having been one of the unemployed for an extended period of time (but now - thankfuly - back to being gainfully employed), I myself had to rely deeply on my unemployment insurance.
And no...unemployment insurance does not in any way make up for the loss of one's income from a real job...but at least it helps one eat.
So....please...don't look down your nose(s) at those who...for whatever time it takes to get out of this depression and back to gainful employment...have to rely on unemployment insurance to subsist.
Remember: we remain in a depression. Your job...whatever it is...isn't safe either! You are not bullet-proof. I hope you're ready to live on your savings and the little extra unemployment insurance provides. Otherwise....well, you figure it out.
As to the old saw..."unemployment insurance encourages one to not go out and look for a job."....
First, this is usually put forward by those with jobs (at least to this point in time) who don't have to rely on unemployment insurance.
Second, the unemployment insurance check is not "welfare"; one had to have had a job in order for there to be any unemployment insurance to collect.
Third, it is far more damaging to hear "you're too old to be hired here" (OK...maybe that's not what you hear, but it is certainly true. But just try to prove it. "Age Discrimination" has got to be the silliest law on the books...other than the drinking age),or "we not hiring", or "you've got to be kidding!" or variations on these themes...than it is to have to collect unemployment insurance.
Now....with an ego-centric, socialist president without a clue as to how to help create meaningful, private sector, jobs....the hope of those without employment and no prospects for any, it is dim situation indeed.
No....unemployment does not really stimulate the present depression economy. But what it does do is assist those folks who, thru no fault of their own, were thrown out of work and need assistance to get by. Provide them a re-vitalized private sector in an upbeat, hiring mood...and you will see unemployment insurance tank.
Remember: you could (and may well) be next.
....just sayin'