Four more years of Depression-era long-term unemployment. Thank the idiots who voted for Obama.
From the Columbus Dispatch:
About 55,000 long-term unemployed Ohioans will lose federal jobless benefits during the holidays as the recession-era emergency aid comes to an end.
Approved by Congress more than four years ago, the federally funded benefits have provided workers up to 73 additional weeks of aid after they exhaust six months of state payments. Lawmakers extended the program several times before restructuring it this year to reduce the maximum weeks available as the aid is phased out.
99 weeks of of extended mooching coincidentally ends shortly after Obama’s re-election. Even research from Obama’s economic adviser, Alan Krueger, shows people magically find employment when benefits run out. The more generous the unemployment benefits are, the longer spells of unemployment we have.
Advocates for the unemployed are urging Congress to approve another extension, noting that the nation’s jobless rate remains at 7.9 percent. In Ohio, unemployment is 6.9 percent.
Unemployment is still higher than it is the day Obama took office. 4 more years….4 more years.
“If Congress doesn’t renew federal benefits, the impact in Ohio will be immediate and negative,” said Zach Schiller, research director for Policy Matters Ohio, a left-leaning policy-research group based in Cleveland. “Not only will the unemployed suffer, but the state economy will take a hit as well.”
I thought liberals claimed unemployment benefits stimulate the economy. If this were true why has long-term unemployment reached Depression-era levels and why is the economy stagnant?
A recent Policy Matters report found that fewer than a quarter of jobless workers in Ohio receive state unemployment compensation, with the federal support boosting that to 39 percent.
Because unemployed workers are likely to spend their benefits on food, rent and other expenses, the aid also helps the local economy, advocates note. The average benefit is $300 a week.
So taking money out of the economy and giving it out in the form of unemployment benefits helps the economy? Yes, liberals are that stupid.