Monday, August 3, 2009

Pay People Not to Work...

and, they won't.

Reuters reports:

[Chief Obamaa economic advisor Larry] Summers and U.S. Treasury Secretary Timothy Geithner said the Obama administration would work with Congress on ways to extend unemployment benefits later this year.

"We'll do what's necessary to make appropriate unemployment benefits available," said Summers, adding that this has helped maintain consumer spending.
This will only aggravate the recession. It is allowing people to stay out of the workforce, and results in less production in the United States and thus a lower standard of living for all.

Whenever these people come back into the workforce, it will cause adjustments in the economy that could be taken care of now, if unemployment benefits are not extended.

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