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| Larry Kudlow |
The Trump Administration has finally figured out what we have been reporting here for months.
The extra $600 in weekly federal unemployment benefits is creating a disincentive for many Americans to return to work.
Larry Kudlow, the White House economic adviser, says the administration opposed extending federal unemployment payments beyond July because of this disincentive.
“The $600 . . . is in effect a disincentive. We’re paying people not to work. It's better than their salaries,” Kudlow on Sunday told Jake Tapper on CNN's 'State of the Union". “That might have worked for the first couple of months [but] it will end in late July.”
Kudlow said President Trump was considering “some kind of bonus for returning to work.”
Of course, the government has no money to pay out such a bonus which will mean even more mad Fed money printing. And I do mean mad, see: A New Podcast: 'This Week in Economics With Robert Wenzel'.
-RW
Here in Washington State, there are over 250,000 people unemployed that still are not being paid yet.
ReplyDeleteAbout 50,000 of those haven't been paid for around 11 or 12 weeks!
Certainly a distortion...some are being paid a lot for not working others are being financially destroyed.