Flanked by a bunch of people Obama gave a very interesting speech yesterday. We are now approaching another argument over whether we should extend UE Benefits to 99 weeks. Here are the FACTS:
Unemployment Benefits were TEMPORARILY extended in 2007/2008 Global recession to 99 weeks (up from 6 months) to help people recently fired/laid off
The Recession ended in July of 2009
The Labor Participation Rate is at an all time low (meaning people in the work force have stopped working because of lack of jobs or other reasons)
This is really not partisan at all, but small minded people will view it this way. Let me ask a few questions:
1) IF the economy is out of a recession (which by all normal measuring metrics , we are) why are we debating extending UE benefits 4.5 years PAST when the recession ended?
Option 1: the recession is over, but the recovery is anemic and people cannot find work or work they WANT (IE the guy with a 4 year CIS degree is working at Mcdonalds)
Option 2: the reason to extend UE benefits is to buy votes by giving people other peoples money. Obama actually said that giving UE benefits to people creates jobs. WHAT? They why dont we pay everyone not to work?
OBAMA: Independent economists have shown that extending emergency unemployment insurance actually helps the economy, actually creates new jobs. When folks like Katherine have a little more to spend, to turn up the heat in her house or buy a few extra groceries, that means more spending with businesses in her local community, which in turn may expire that person to hire one more person.
2) 5 years into HIS ADMINISTRATION, he is saying that people are hurting, out of work, and need help. Isnt that an indictment on him and his policies (or lack of policies)? Its funny to me how he is basically admitting his own policies have failed people, and he is parading the same people he has failed behind him in this photo.
3) The name they keep pushing is "Emergency UE BEnefits" which have been in effect since 2008. When does the Emergency end?
4) The cost of extending these benefits is estimated to be around 6 billion. If 1 Trillion in stimulus spending got us basically 1% lower in UE.......why is 6 billion this magical number that is going to keep the economy going?
5) Contradictory Statement #2
Says people dont want an UE check, but is arguing to give people UE checks because it creates jobs (despite having no data to prove this). Seems legitOBAMA: I've heard the argument that says extending unemployment insurance will somehow hurt the unemployed because it saps their motivation to get a new job. I -- I -- I really want to -- I want to (pause) go at this for a second. Y'know, I -- I, uhhh --
OBAMA: That really sells the American people short. I meet a lot of people as president of the United States, and as a candidate for president of the United States, and as a US senator and as a state senator. I, uh, I -- I meet a lot of people. And I can't -- I can't name a time where I met an American who would rather have an unemployment check than the pride of havin' a job.