New Report Shows More than One Million Jobs Have Been Added Through Expanded Unemployment Benefits
Congressional Desk
July 19, 2010
The Economic Policy Institute (EPI) released a report on the economic benefits of unemployment insurance. The report concluded that expanded unemployment benefits:
Added 1.15 million American jobs since 2007;
Promoted spending by the jobless that increased hours worked for those who already have jobs;
Resulted in a 1.7 percent boost in the nation´s gross domestic product.
From USA Today:
"If you want to get more spending in the economy, one of the best things you can do is give some money to an unemployed person," says Larry Mishel, president of the liberal Economic Policy Institute. "You give them money, and they're not paying down their debts, they're not saving; they're going to spend it."
In a report out Thursday, the Economic Policy Institute tallies up the economic benefits of jobless people spending their unemployment checks and concludes that expanded unemployment benefits, including health insurance subsidies, are responsible for adding 1.15 million jobs since 2007, partly offsetting the 8 million jobs lost since the recession began. The institute also says spending by the jobless has allowed thousands of other Americans to work more hours. Extending jobless benefits is "compassionate, but it's also good economics," Mishel says…[ USA TODAY, 7/15/10]
Congressional Republicans support Wall Street banks, credit card companies, Big Oil, and insurance companies – the special interests that benefited from George Bush´s policies and created the worst financial crisis since the Great Depression. A decade of Republican rule nearly doubled our national debt. Why would we go back?
Democrats in Congress are fighting to help small businesses create jobs here at home. Democrats are taking America in a New Direction – creating good American jobs, providing the lowest taxes in 60 years for the middle class and small businesses, and closing tax loopholes that send jobs overseas.
Added 1.15 million American jobs since 2007;
Promoted spending by the jobless that increased hours worked for those who already have jobs;
Resulted in a 1.7 percent boost in the nation´s gross domestic product.
From USA Today:
"If you want to get more spending in the economy, one of the best things you can do is give some money to an unemployed person," says Larry Mishel, president of the liberal Economic Policy Institute. "You give them money, and they're not paying down their debts, they're not saving; they're going to spend it."
In a report out Thursday, the Economic Policy Institute tallies up the economic benefits of jobless people spending their unemployment checks and concludes that expanded unemployment benefits, including health insurance subsidies, are responsible for adding 1.15 million jobs since 2007, partly offsetting the 8 million jobs lost since the recession began. The institute also says spending by the jobless has allowed thousands of other Americans to work more hours. Extending jobless benefits is "compassionate, but it's also good economics," Mishel says…[ USA TODAY, 7/15/10]
Congressional Republicans support Wall Street banks, credit card companies, Big Oil, and insurance companies – the special interests that benefited from George Bush´s policies and created the worst financial crisis since the Great Depression. A decade of Republican rule nearly doubled our national debt. Why would we go back?
Democrats in Congress are fighting to help small businesses create jobs here at home. Democrats are taking America in a New Direction – creating good American jobs, providing the lowest taxes in 60 years for the middle class and small businesses, and closing tax loopholes that send jobs overseas.
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