A new USA TODAY/Gallup poll shows that only 17 percent of Americans think Congress should reject a stimulus bill altogether. Listen to the Illinois GOP and one might think only 17 percent want it passed. This time, the stimulus-bashing comes from former Speaker ...
A new USA TODAY/Gallup poll shows that only 17 percent of Americans think Congress should reject a stimulus bill altogether. Listen to the Illinois GOP and one might think only 17 percent want it passed.
This time, the stimulus-bashing comes from former Speaker Dennis Hastert. When asked about the partisan split over the House vote by the Daily Herald, the Plano Republican delivers this incoherent refutation of the bill’s purpose:
When you really analyze it, if you want to stimulate economic growth, you have to have people investing, creating capital and creating jobs. Basically, a big part of that (stimulus package) went for extending unemployment. It’s a nice thing to do, but when you extend unemployment, you take the incentive away from people to go out and get a job. So it almost has a counter negative effect.
Hastert totally misinterprets the stimulative effect of extending unemployment benefits. Temporary increases in unemployment insurance -- both the House and Senate recovery packages include federal funding for a $25 per week increase in unemployment benefits and extend the deadline to qualify -- go to workers who have lost their jobs. That means their added income is likely to be spent quickly. Aside from food stamps, economist Mark Zandi says expanding unemployment benefits actually offers the biggest bang for the buck possible; for every dollar spent, the economy would see a return of $1.64.
How many times will Illinois Republicans tout these lies before reporters press them on their flawed logic?
The consumer pull back marked the weakest monthly sales reading in thirteen years and economist said it showed Americans are cutting back their spending amid fears the economy could be falling into a recession.
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