Posted on 04/16/2020 12:36:55 PM PDT by yesthatjallen
Former Vice President Joe Biden on Thursday proposed federally funded subsidies for businesses to keep employees on payroll when they would otherwise need to lay them off in times of economic distress.
Biden, the presumptive Democratic nominee for president in the 2020 election, called for the national adoption of state-run “short-time compensation” programs amid a drastic spike in joblessness caused by the coronavirus pandemic.
Such programs allow businesses facing financial peril to cut their workers’ hours with the federal government making up the difference in lost wages.
Short-time compensation programs are intended to fend off business bankruptcies and keep workers connected to their employers and their employment-linked health benefits during economic downturns. Doing so could help pave the way to quicker rebound when the economy begins to improve.
“We should be committed to keeping as many people as possible attached to their employment, so they can easily return to work when appropriate, and maintain their income and benefits,” Biden said in a statement.
“This is more than just the right thing to do — it is the surest road to a rapid recovery, because the faster everyone returns to their jobs, the faster we can improve demand and get our economy running again.”
More than 5 million Americans filed new claims for unemployment benefits last week, the Labor Department reported Thursday, joining roughly 17 million other workers who were laid off as businesses close to slow the spread of the virus.
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(Excerpt) Read more at thehill.com ...
What they should have done was a plan of short-term debt deferral. Any long term obligation (e.g., mortgages, car loans, rent, student loans, perhaps even credit card debt over some amount ($200??)) would be pushed out 90 days. At that time, debt payments resume. This would have allowed the existing Unemployment Compensation system to handle the food, utilities, etc. daily expenses. True, the UC system is swamped, but they could hire temporary workers to process claims. With the current method, you get stuff like we see coming from Binden and other Democrats that push us faster and faster down the road to Socialism.
Here is one that even the democrats did not think of. There are people who are seasonally employed. Such as Lawn Maintenance, Lawn mower repair, ect... Those people would normally be going back to work right now. But they can’t. So they are jobless, and they can’t collect unemployment either because they were not working at the start of this.
So what is happening with the $2 trillion relief bill congress already passed?
However if a seasonal employee was working for a Ski lodge then they would normally be laid off just after all of this began. They can now collect unemployment plus get the extra 600 a week for a long time to come.
Just re-open the damn economy, putz.
Yeah, great idea..let’s just print more money and hand it out to people.
What could possibly go wrong?
Hes a puppet with a stick up his arse.
Keep em unemployed til November. When magically they virus won’t matter.
so, we now turn to that age old question: if joe biden said something stupid or irrelevant in a forest but no one cared, does he make a sound?
“Federally funded” my rear! It’s “Taxpayer funded.”
That was p*ssed away before it could reach anyone who truly needed it. Most got crumbs.
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