Arab Today, arab today obama blind to facts on extended unemployment benefits
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

Obama blind to facts on extended unemployment benefits

Arab Today, arab today

Arab Today, arab today Obama blind to facts on extended unemployment benefits

College Park - UPI

U.S. President Barack Obama relentlessly argues the unemployed lack work through no fault of their own and Republican reluctance to reinstate long-term jobless benefits is both heartless and harmful to the economy.Those assertions contradict the facts and sound economics.Last July, North Carolina cut maximum unemployment benefits from 73 weeks to 20. Over the next five months, the state's unemployment rate fell from 8.8 percent to 7.4 percent -- more than four times better than the progress registered at the national level.Eliminating the subsidy for not working inspired many people in North Carolina to more earnestly seek jobs and accept positions they had previously shunned. Many others who lost benefits dropped out of the state labor force altogether, indicating they neither needed jobs nor unemployment benefits to get along or they pulled up stakes and moved to places like South Dakota where good jobs go begging.When liberal newspapers or National Public Radio run stories about Republicans in Congress blocking federal subsidies for yet another round of unemployment benefits beyond the customary 20-26 weeks, they recount women hocking grandmother's wedding rings and fathers selling children's bicycles to pay rent or purchase groceries.No doubt those individual anecdotes are true, however, in North Carolina, after the legislature cut off long-term benefits, those media didn't document additional thousands applying for public assistance, crowding homeless shelters or stressing food banks. It would appear many who had lost those payments had assets other than family heirlooms and children's treasures to sustain them, such as a spouse with a decent job or a large retirement account.State unemployment insurance programs require beneficiaries to document they are actively looking for work but those can't compel the unemployed to be earnest, relocate or accept positions at significantly lower pay or status than their old positions.Excessively long eligibility periods for unemployment benefits do encourage the jobless to put off reconciling with harsh facts of their changing circumstances. It isn't clear why a taxpaying waitress should subsidize a displaced executive who doesn't want to drive a cab.Similarly, those benefits help explain why so many tough jobs at meat packing plants and cleaning offices go to immigrants. Native-born Americans act as if some jobs are beneath their dignity but it is wholly unfair to tax immigrants and others to pay for such behavior.Focusing on the broader economy, Democrats argue that extending unemployment benefits provide the most effective economic stimulus for the slow-growing economy because the unemployed spend that money quickly. However, that assumes other federal programs aren't cut or taxes raised to pay for the program.In the current federal budgetary environment, deficit spending to finance extended jobless benefits is simply not on the table, invalidating the stimulus argument.Increasing the duration of unemployment benefits also reduces the demand for workers. Simply, those benefits encourage the unemployed to hold out for higher wages and require employers to pay more for new workers and those already on the payroll. Much like a higher minimum wage, that phenomenon causes employers to post fewer job openings. Researchers at the non-partisan National Bureau of Economic Research compared labor markets in states and counties with longer and shorter maximum periods for unemployment benefits and found this phenomenon significantly reduces employment. In fact, they found extended unemployment benefits caused most of the persistently high unemployment after the Great Recession.Put another way, those benefits actually hurt the unemployed by substantially curtailing the creation of new job opportunities.The weight of evidence indicates that extending long-term unemployment benefits helps neither the overall economy nor the unemployed. To argue otherwise is simply to be blind to facts and deaf to reaso.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama blind to facts on extended unemployment benefits Arab Today, arab today obama blind to facts on extended unemployment benefits

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama blind to facts on extended unemployment benefits Arab Today, arab today obama blind to facts on extended unemployment benefits

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday