|Unleash Prosperity Hotline
|1) Another Ridiculous Stimulus
The American economy is experiencing the most powerful recovery of modern times with the most rapid decline in unemployment in modern times. So naturally, Biden, Pelosi, Schumer and now a handful of Republicans want another $1 trillion stimulus plan. Yesterday a bipartisan cabal in Congress released a $904 billion plan that includes airline bailouts, more school funding (for schools that are closed down!), a $200 billion blue state bailout, and other assorted absurdities. No word yet as to whether the vital $100 million for the National Endowment for the Arts made it into this package.
We do know the bill would provide another $300 per week unemployment bonus (on top of normal benefits) for 18 weeks. This pays about half of unemployed workers more money to stay on the couch than go back to work. There are 6.5 million open jobs in America today. That is some job shortage. CTUP economist Casey Mulligan estimates that this UI benefit would cost at least four million jobs.
What this bill would really stimulate is unemployment.
Here are the Republicans who have signed on to this monstrosity:
-Susan Collins of Maine
-Bill Cassidy of Louisiana
-Mitt Romney of Utah
-Lisa Murkowski of Alaska
And here is a perfectly accurate statement from a more sensible Republican senator:
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