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now that millions of people are losing jobless benefits does that mean 0bama is making progress?
January 9th, 2012 | 
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Question by : now that millions of people are losing jobless benefits does that mean 0bama is making progress?
http://news.yahoo.com/blogs/lookout/millions-set-lose-jobless-benefits-m-very-scared-153145363.html
with less people able to claim, that means that there are less people looking for work, so its win win for 0bama for his road to recovery.
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Answer by Tripp Smith
He also wants to extend benefits. Further proof that he has no jobs in sight
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No, it would mean more people out looking for work but the unemployment rate will appear lower in number just due to all the people not getting unemployment. When they figure unemployment stats they only count those getting benefits. If they cut off a slew of benefits for people their numbers appear lower.
It merely proves that repubs don’t want to extend unemployment comp, which in turn proves that they don’t give a damn about average people.
Here’s an economics lesson that they don’t teach in home-school:
Wealth is created with material, productive capacity, people, energy, and time. Money is only a measuring tool. Bond holders are begging us to keep their money safe for a zero inflation-adjusted interest rate. We can also buy the bonds ourselves as we did during WW II. And/or we can also print the money just as the Fed does for European banks.
With borrowed or printed money, we can purchase all the material we need and 20% of our productive capacities, now sitting idle. And we can hire 20 million benefit-drawing, jobless people to build a green economy and become energy independent.
We have plenty of time to hear deficit hawks complaining about debt. Today, our debt ratio (National Debt / GDP) is half of its value at the close of WW II (120%). During the following 35 post-war years, with high tax rates and annual budget deficits, we spent another fortune paying college tuition for 16 million veterans and financing their homes, rebuilding Europe with the Marshall Plan, creating nuclear energy, paving the Interstate Highway, sending men to the moon, arming for the Cold-War, fighting hot wars in Korea and Vietnam, financing a dozen proxy wars, and much more.
And what was the result of 35 years of stimulus with high tax rates and annual budget deficits? GDP growth was so strong that the debt ratio dropped to 25% of its wartime peak.
That’s when Reagan doubled the debt ratio back up to 50% of its wartime peak. He cut taxes and giant Sequoia redwood trees, ripped Carter’s solar panels off the White House roof, and shut down an experimental nuclear plant based upon thorium, much safer than uranium. Brilliant!
Stimulus worked for Hitler before WW II. Stimulus worked for us during and after WW II. Stimulus is working for China today. If we dump the deficit hawks, stimulus can work for us tomorrow morning.
Every time we printed money to put people to work on infrastructure, we created wealth.
Every time we cut taxes and stopped investing in infrastructure, we created poverty.
http://www.KeynesForum.com