Posted on 08/11/2011 9:03:21 AM PDT by Dubya-M-DeesWent2SyriaStupid!
"I understand why extending unemployment insurance provides relief to people who need it, but how does that create jobs," Wall Street Journal's Laura Meckler asked Jay Carney at Wednesday's WH briefing. Carney responded: "Oh, uh, it is by, uh, I would expect a reporter from the Wall Street Journal would know this as part of the entrance exam." "There are few other ways that can directly put money into the economy than applying unemployment insurance," Carney said. Carney answers the question: "It is one of the most direct ways to infuse money directly into the economy because people who are unemployed and obviously aren't running a paycheck are going to spend the money that they get. They're not going to save it, they're going to spend it. And with unemployment insurance, that way, the money goes directly back into the economy, dollar for dollar virtually." "Every place that, that money is spent has added business and that creates growth and income for businesses that leads them to decisions about jobs, more hiring. So, there are few other ways that can directly put money into the economy than applying unemployment insurance, Carney said.
(Excerpt) Read more at realclearpolitics.com ...
From what I see, hear and live the above is commonplace more often than not.
So how does this create a million jobs? Carney/Obama's theory seems to think people are rich when they get unemployment insurance and they will go spend and shop creating jobs? On UI you go to the grocery store and pay basic bills, barely. You don't go out and buy extravagant things or eat out. They are all on crack
EASY! The more unemployed in the country the more the Department Of Labor needs to hire to process the unemployment checks.
Sorry, but say I bring home 4500$ per month. In the state of TX, that is 340$ a week max UE. That money is not going to the stimulate the economy. These people are idiots.
So is the White House admitting that letting people keep and spend their own money creates jobs, or do the basic laws of Economics only apply when the Gov’t gives you someone else’s money?
This is so stupid. I am for unemployment benefits, but you have to be a real nut to think it’s going to add jobs in any real way.
If it did, why doesn’t the government give everyone a free $50k check a year, working or not. That way, we’d all be spending more.
“They are all on crack”
No, but Holder’s people are, and that’s one of the “industries” they’ll support with their UI. That, and tobacco, alcohol, and electronics, (cell phones and TVs).
You aren’t far off base. A large amount of stimulus money that came to my state went to upgrades and “greening” of unemployment offices.
If I had the chance to ask these yahoo’s just one question it would be... “How does taking water from one side of the pool and pouring it into the other side of the pool add any water?”
If it’s so wonderful for the economy why not give everyone $1MM? Because jobs arise from wealth creation and wealth is created when risk is taken with the prospect of reward.
A job is not a vehicle for an individual to be a consumer.
A job is a vehicle to further the aims of business entity in it’s pursuit of a return on invested capital.
The people that buy this crap are self-dillusional because, were it true that spending stimulated the economy, everyone in the world now would be wealthy.
But there will always be looters to preach pretty lies to moochers.
I would have loved it if the reporter followed up by asking Carney if it was the administration’s goal to have everyone on unemployment so that the economy could really take off.
One must be economically ignorant, intellectually dishonest, or both to believe that jobs are created by higher taxes, increased government spending, and (especially by) expanded unemployment insurance. That most Democrats seem to believe these things unreservedly is an index of how much trouble we are in.
You're lucky. The economic stimulus money that came to my state went to the spanish owned electric company and they used the money to install smart meters at every home and laid off all of their meter readers.
and it produces more than the owner”
I believe the Keynesian talking point on this is the “multiplier effect”. That term was bandied about ad nauseum during the stimulus era. The idea being, if you give a buck to Joe, then he spends it at the local shop, the shopkeeper in turn spends it elsewhere, and so on blah blah blah. Then they produced a “study” that said that the “multiplier effect” created something like $1.20 in value for every $1.00 put into the system.
So there you have it.
Next on my list of “things to do” is alchemy. And other forms of magic.
You forgot Casinos, and inner-city drug dealers
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