(I really like the visualization of "shooting old people into space" to fix social security. - promoted by Fong)
Cross-posted from http://spoonfighter.com
If you're one of those poor bastards whose unemployment benefits are running out, you're about to get a reprieve. The late Sen. Byrd's replacement will be sworn in today, and unless one of the Democrats steps in front of a motorcade, gets locked in the Senate bathroom, or has an intern-related heart attack, they should have the 60 votes they need to overcome the Republican filibuster and extend unemployment benefits. (more) |
| This issue has become heavily politicized, which should never happen in politics. President Obama accused the GOP of using the issue for election-year gains at the expense of laid-off workers. Republicans countered that they would be happy to approve the extension, but only if its $32 billion cost is "paid for" by cuts to other programs or tax increases.
That sounds very responsible and reasonable, but they might as well have said, "Hell no," since in the current climate, both options are as politically feasible as, say, fixing Social Security by shooting old people into space.
Of course, the GOP do not insist that tax cuts or military spending be "paid for". I find this very mysterious, but perhaps there's something about such spending that makes the normal rules of math not apply. Like maybe leprechauns riding unicorns suddenly appear and pour sacks of gold into the treasury. Must be something, right?
Regardless of the politics involved, most economists appear to believe that extending unemployment benefits is one of the most effective ways to stimulate the economy. Mark Zandi, chief economist for Moody's Analytics, has said that for every $1.00 that enters the economy this way, the GDP grows $1.61, and that failure to do so puts the current recovery, however slow, at risk. He failed to mention, however, the stimulative effect of shooting old people into space. |
