Senior Obama advisor explains why high unemployment is healthy for the economy
Look upon their works, ye mighty, and despair.
by John Hayward
Human Events
02/22/2012
White House advisor Valerie Jarrett, whose remarkable level of power and influence in the Administration has been a topic of considerable debate, demonstrated her economic brilliance before an audience at the North Carolina Central University on Monday:
As transcribed by The Blaze, Jarrett retailed one of the Obama Administration’s most persistent fantasies – thoroughly debunked by both rational economic analysis and a casual survey of current headlines – which holds that unemployment insurance is an incredibly powerful job-creating stimulus:
“Even though we had a terrible economic crisis three years ago, throughout our country many people were suffering before the last three years, particularly in the black community,” Jarrett said. “And so we need to make sure that we continue to support that important safety net. It not only is good for the family, but it’s good for the economy. People who receive that unemployment check go out and spend it and help stimulate the economy, so that’s healthy as well.” (Emphasis mine.)
Good news: according to Gallup, unemployment is on its way back up to 9 percent in February. That should flood the economy with fresh stimulus! To achieve maximum health, we should try to get back to the double-digit levels President Obama has previously brought us. Then America’s veins would be bursting with cash from unemployment checks!
Think about what this dopey talking point really means. Jarrett and her President think that if they suck billions out of the private sector through high taxes, and rack up trillions more in debt, the resulting pennies on the dollar returned to unemployed Americans will somehow drive economic growth far in excess of the job-killing effects of their policies. ...
Remainder of article @ http://www.humanevents.com/article.php?id=49686
Good grief ... the people in the Obama Administration truly are the stupidest people on the planet!
B.
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