Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So does this mean we're not saving money with this cut? And how does $1 generate $2 for the economy?
WASHINGTON -- The U.S. Labor Department has warned North Carolina legislators that their controversial plan to slash unemployment benefits will cost the state $780 million in federal funds and cast a "grievous blow" on the state's working families.
So does this mean we're not saving money with this cut? And how does $1 generate $2 for the economy?
Transfer payments such as UI aren't counted as part of government spending when calculating GDP. They're counted under consumption, since most transfer monies are turned around as consumption spending, vice tax credits which while ostensibly marketed as stimulating investment, rarely make their way into investment spending for GDP purposes, hence the $X dollars for every dollar spent figures.
It has to do with the increasing percentage of income spent on consumer goods as you go down the economic ladder. Essentially the vast majority of that $780 million would've been spent on food, housing, heating, transportation, etc. instead of squirreled away. Or in other words local businesses just missed out on hundreds of millions in revenue.
Location: The place where the road & the sky collide
23,809 posts, read 34,475,264 times
Reputation: 10256
Quote:
Originally Posted by GCharlotte
So does this mean we're not saving money with this cut? And how does $1 generate $2 for the economy?
WASHINGTON -- The U.S. Labor Department has warned North Carolina legislators that their controversial plan to slash unemployment benefits will cost the state $780 million in federal funds and cast a "grievous blow" on the state's working families.
The feds are right. It was an incredibly stupid move. People on unemployment use that to buy food & pay basic bills. It is subsistance money. If we were at full employment it would be one thing, but under the circumstances it's a terrible thing to do.
Last edited by southbound_295; 02-12-2013 at 06:48 PM..
So does this mean we're not saving money with this cut? And how does $1 generate $2 for the economy?
WASHINGTON -- The U.S. Labor Department has warned North Carolina legislators that their controversial plan to slash unemployment benefits will cost the state $780 million in federal funds and cast a "grievous blow" on the state's working families.
Not totally clear on how this is tied together but it would appear the state wants federal money without stipulations. From the jest of the article we may pay off a $2 billion debt yet sacrifice free money for cutting the length and amount of unemployment benefits.
The feds are right. It was an incredibly stupid move. People on unemployment use that to buy food & pay basic bills. It is subsistance money. If we were at full employment it would be one thing, but under the circumstances it's a terrible thing to do.
Of course, Governor Art Pope, I mean, McCrory, don't care, they don't have to worry about the things that we go thru trying to make it day to day, they're set for life! It's about time we start organizing and going to Raleigh to let our voices be heard, if we don't take to the streets, then they're going to keep getting away with this! The Republicans in Raleigh want to balance the government on the backs of struggling people and the NC Dems are just complete wusses, we have to fend for ourselves at this point b/c it seems that noone is fighting for us!
Of course, Governor Art Pope, I mean, McCrory, don't care, they don't have to worry about the things that we go thru trying to make it day to day, they're set for life! It's about time we start organizing and going to Raleigh to let our voices be heard, if we don't take to the streets, then they're going to keep getting away with this! The Republicans in Raleigh want to balance the government on the backs of struggling people and the NC Dems are just complete wusses, we have to fend for ourselves at this point b/c it seems that noone is fighting for us!
Nice!
Getting a job may help the struggling people take care of themselves. If the strugglers can't or don't want to work - WELFARE and FOOD STAMPS is off the backs of the working class, go "GET YOU" some free cash. Don't worry when the bank account gets low, we'll print some more for you.
Getting a job may help the struggling people take care of themselves. If the strugglers can't or don't want to work - WELFARE and FOOD STAMPS is off the backs of the working class, go "GET YOU" some free cash. Don't worry when the bank account gets low, we'll print some more for you.
Yeah, that's the solution. Everyone should just get a job. Never mind that all the jobs have been outsourced to Asia or Mexico, or that for every job opening we see hundreds applying for it--people should get a job anyway! Maybe you would support a program to pay for all the unemployed people to move to Asia or Mexico so they can get a job?
Yeah, that's the solution. Everyone should just get a job. Never mind that all the jobs have been outsourced to Asia or Mexico, or that for every job opening we see hundreds applying for it--people should get a job anyway! Maybe you would support a program to pay for all the unemployed people to move to Asia or Mexico so they can get a job?
Thank you! I would reply back to him, but I know it wouldn't be worth wasting my time or energy trying!
Getting a job may help the struggling people take care of themselves. If the strugglers can't or don't want to work - WELFARE and FOOD STAMPS is off the backs of the working class, go "GET YOU" some free cash. Don't worry when the bank account gets low, we'll print some more for you.
I'm guessing ClevelandMike won't chime in with a comeback for that reply!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
