Thursday, December 02, 2010

Sherrod Brown: Unemployment Benefits Stimulate the Economy Because People Can Use Those Crumbs to Pay For Necessities...Like Property Taxes

Gee, Sherrod Brown really knows how to sell the sizzle, doesn't he?

But his hypothetical example here is preposterous.

As if anyone could pay their property tax bill with a measly unemployment check!
"The other reason to maintain unemployment benefits is all economics. Senator McCain, when he was candidate for President, his chief economic advisor said the best way to grow the economy - the best stimulus dollar you can spend - is unemployment insurance. Because when you put a dollar in a laid-off worker's pocket from Lima, Ohio or Zanesville, Ohio she will spend it at the local grocery store, the local shoe store, pay her property tax, pay her gas bill, whatever. That money is recycled in the economy."
Why the unemployment rate has risen to and remains stuck near 10% - despite the fact that unemployment benefits have been extended to a ridonkulous 99 weeks - is a question Sen. Brown never gets around to answering.

Via The Right Scoop. Cross-posted.

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