Sunday, January 4, 2009

How Do You Increase Unemployment During a Recession?

It looks like Barrack Obama is going to show us how.

Pay people not to work, they may not work. Pay their health insurance while they are not working and it will provide more incentive not to work. Pay part-timers not to work, and they won't work.

Welcome to the world of Obama Economics. NYT with the details:

President-elect Barack Obama and Congressional Democrats are considering major expansions of government-assisted health care insurance and unemployment compensation as they begin intensive work this week on a two-year economic recovery package.

One proposal, as described by Democratic advisers, would extend unemployment compensation to part-time workers...

Other policy changes would subsidize employers’ expenses for temporarily continuing health insurance coverage to laid-off and retired workers and their dependents, as mandated under a 22-year-old federal law known as Cobra, and allow workers who lose jobs that did not come with insurance benefits to be eligible, for the first time, to apply for Medicaid coverage

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