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Author Topic: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart  (Read 1762 times)

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Offline Freeper

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Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« on: November 16, 2010, 07:32:23 PM »
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Joanne98  Donating Member  (1000+ posts) Click to send private message to this author  Click to view this author's profile  Click to add this author to your buddy list  Click to add this author to your Ignore list  Donate to DU!      Tue Nov-16-10 08:27 PM
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Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Department
   
WASHINGTON -- The extra weeks of unemployment insurance created in 2008 and 2009 to fight the recession significantly boosted the economy and saved millions of jobs, according to a study commissioned by the Labor Department.

"Unemployment insurance is one of the best investments we can make, not only for the millions of people that utilize UI benefits to provide for their families in a time of need, but for the millions more whose jobs are kept secure because of the stabilizing effect it has on our economy as a whole," said Labor Secretary Hilda Solis in a statement.

Most economists agree that unemployment benefits are among the most economically stimulative fiscal policies, because people receiving a few hundred dollars in benefits per week tend to spend the money immediately on necessities like food and rent. During every recession since the 1950s, Congress has given the unemployed additional weeks of benefits beyond the 26 provided by states. During the current recession the long-term unemployed have been eligible for as much as 99 weeks of aid -- though the extra help currently hangs in the balance.

The Labor Department's study, conducted by IMPAQ International and the Urban Institute, found that every dollar spent on unemployment benefits increased economic activity by two dollars, and that the extended benefits kept 1.6 million people on the job and averted 1.8 million layoffs each quarter. The study also found that extended unemployment insurance prevented an 18 percent fall in Gross Domestic Product.

The progressive Economic Policy Institute estimates that reauthorizing the benefits for another full year will cost $65 billion and create more than 700,000 jobs. The Obama administration has called on Congress to reauthorize the benefits.

http://www.huffingtonpost.com/2010/11/16/unemployment-b...

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x9572515

Kind of like putting a band-aid on a broken leg if you ask me.
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Offline true_blood

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #1 on: November 16, 2010, 07:44:19 PM »
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Joanne98  Donating Member  (1000+ posts)    Tue Nov-16-10 08:27 PM
Original message
Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Department
WASHINGTON -- The extra weeks of unemployment insurance created in 2008 and 2009 to fight the recession significantly boosted the economy and saved millions of jobs, according to a study commissioned by the Labor Department. The progressive Economic Policy Institute estimates that reauthorizing the benefits for another full year will cost $65 billion and create more than 700,000 jobs. The Obama administration has called on Congress to reauthorize the benefits.
What a bunch of stupids. S_T_U_P_I_D!! :argh:
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Offline Evil_Conservative

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #2 on: November 16, 2010, 07:51:31 PM »
Really?

Are they really saying that redistribution of wealth boosts an economy?

Is this a joke?

What happens when that money is no longer there to give out to those that do not work or refuse to work?
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Offline Carl

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #3 on: November 16, 2010, 08:01:32 PM »
They deliberately and falsely call economic activity economic growth,it is not.

Sure,you can pour a bunch of water into a porcelain fixture and it will make a few circles before it is gone...that is what demand side economics amounts to.
Unemployment insurance is simply throwing unearned money into the economy and then claiming what it is spent on as growth when in reality it is simply debt acquired with interest and then reloaned without interest charged.
It can push numbers but can not sustain growth,eventually the activity it produces lessens and lessens until once more the toilet bowl is empty.
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Offline USA4ME

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #4 on: November 16, 2010, 08:03:25 PM »
Can you roll the printing presses and create money out of thin air to keep people spending?  Sure.  But what happens to the value of that currency after a while, primitives?

You can't on one had say that unemployment benefits are good while on the other hand complain about the devaluation of the US dollar.  Do you even have the slightest clue as to what I'm telling you, primitives?

.
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Offline ColonialMarine0431

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #5 on: November 16, 2010, 08:05:32 PM »
Citing HuffPo again as a credible news source. I love it...


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Offline Freeper

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #6 on: November 16, 2010, 08:07:03 PM »
Quote from: ColonialMarine0431 on November 16, 2010, 08:05:32 PM
Citing HuffPo again as a credible news source. I love it...




These are the idiots who believe Truthout.com.
 :lmao:
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Offline Duke Nukum

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #7 on: November 16, 2010, 08:30:50 PM »
Obviously, the Labor Dept is run by the insane.
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Offline NHSparky

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #8 on: November 16, 2010, 09:27:20 PM »
Something tells me Joanne has been hitting her son's stash again--REAL HARD.

That is, if he isn't back/still in prison.
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Offline BlueStateSaint

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #9 on: November 17, 2010, 04:21:01 AM »
Quote from: NHSparky on November 16, 2010, 09:27:20 PM
Something tells me Joanne has been hitting her son's stash again--REAL HARD.

That is, if he isn't back/still in prison.

I think she found his stash despite the fact he's in prison.  Maybe both of them are (IIRC, she's got two WOS, right?)
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Offline DumbAss Tanker

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #10 on: November 17, 2010, 09:07:33 AM »
"Mice incredibly beneficial to crops and society, according to Ministry for Propagation of Rodents."

 :whatever:
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Offline jukin

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Re: Unemployment Benefits Boosted Economy, Saved Millions Of Jobs, Says Labor Depart
« Reply #11 on: November 17, 2010, 09:09:34 AM »
Riiiiiiiiiiiiiiiiiiiiiiight

The little tiny problem of just kalifornia BORROWING $40,000,000.00 each and every day to pay unemployme...welfare will never catch up to them.

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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.
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