Would spending more money on unemployment benefits create jobs? The Congressional Budget Office (CBO) thinks so. According to a new CBO report, extending the current 73 weeks of unemployment insurance (UI) benefits would lead employers to create 300,000 new jobs. This seems highly implausible. Economists widely agree that UI causes …
By the only objective standard available, President Barack Obama’s $862 billion economic stimulus has been a complete failure. His administration promised the American people that if the stimulus passed unemployment would never be higher than 8%. It blew past that and hit 10.1% in March 2009 and currently stands at …
When President Barack Obama was trying to sell his $787 billion economic stimulus plan to the American people, there was no louder cheerleader for the plan than Mark Zandi of Moody’s Economy.com. Zandi confidently produced scientific tables purporting to prove that for every $1 the Obama administration gave to states, …
