Senator Chuck Schumer (D-NY) sure does love unemployment. He likes it so much he calls it the best stimulus out there!
“At the end of last year, there were 5 million people receiving emergency UI [unemployment insurance]. This year, there are only 2 million. It’s working,” Schumer said at a press conference Thursday.
“We’re all talking about a stimulus. How do we get the economy moving? This is the best stimulus there is.”
Schumer and fellow Senate Democrats called for yet another extension of benefits for the long-term unemployed before the current benefit extension expires at the end of the year.
Recently, the Congressional Budget Office estimated that a full-year extension of the benefits would cost $30 billion and create approximately 300,000 full-time equivalent jobs. (Read More)
Assuming the CBO is correct, and that’s a big assumption, that would come to about $100,000 per job that the taxpayers are footing the bill for. As for the number of Americans no longer receiving unemployment benefits, that’s not because they found jobs, they just gave up. I wonder how many of them are now on disability.
Via Fox Nation
Update: Linked by Big Pulpit – thanks!