Locking in the anti-Trump vote: "Kudlow says $600 additional unemployment checks will end in July"

[SteveG]

That'll show those sponging slackers! Your job disappeared? Well it's time for GOP bootstraps, fella!


Kudlow says $600 additional unemployment checks will end in July
https://www.politico.com/news/2020/06/14...end-317641

National Economic Council Director Larry Kudlow reiterated Sunday the $600 additional weekly unemployment benefit created to aid those who lost their jobs due to the coronavirus pandemic will end in late July.

"I mean, we're paying people not to work. It's better than their salaries would get," he said on CNN's "State of the Union."

"That might have worked for the first couple of months. It'll end in late July," he added, saying the extra benefit was necessary during the height of the coronavirus lockdowns.

Kudlow said that "almost all businesses" understand the $600 additional benefit is "a disincentive." He said the Trump administration is instead "looking at a reform measure" that will provide an incentive for returning to work, but it will not be as substantial.

"It will not be as large, and it will create an incentive to work," he said. "That goes along with the other incentives we've generated, the tax rebates and, most particularly ... the Payroll Protection Program, which I think was a huge success."

Kudlow was pressed by CNN host Jake Tapper on the idea that Americans don't want to return to work. Tapper pointed out that some Americans' jobs aren't coming back — a point Kudlow called "fair."

[Ted King]

https://www.forbes.com/sites/sarahhansen...ee424e7df7

New estimates from the Congressional Budget Office show that extending the extra $600 unemployment benefits until 2021 would boost consumer spending but stifle growth in other areas.

*The CBO estimates that if the benefits are extended until January 31, 2021, then roughly 80% of people would take home more through unemployment than they would if they were employed.

*Consumer spending on food, housing, and goods and services would be closer to levels seen prior to pandemic-induced unemployment.

*Economic activity would be higher in the second half of the year but activity in 2021 would be lower if the benefit were to be extended.

*Overall employment would also be lower in the second half of the year, and in 2021.

*The CBO chalks these effects up to two separate issues: demand and incentives to work.

*Extra unemployment benefits will boost demand for consumer goods and services because people will have more cash on hand—that will boost output and employment.

*The benefits would also put pressure on the economy in the other direction—the CBO says the benefits would reduce incentives to work for those who take home more from unemployment than they would otherwise earn, and that has the potential to depress both output and employment.

[samintx]

Kudlow Friday and today is so full of Cheeto crap. I hope his Wall street buds don't excuse him because he has been “one of the good ole boys”.

[Filliam H. Muffman]

Yay for entitlements/socialism!

[Sarcany]

When $600/week is more than 80% of the country's full-time pay, maybe employers should be paying better wages.

[AllGold]

*The CBO estimates that if the benefits are extended until January 31, 2021, then roughly 80% of people would take home more through unemployment than they would if they were employed.

Did you notice that stat? 80% of the people in this country are normally paid less by their jobs than the $31,200 per year the would PUA pay--if it were available for a full year, which it is not.