http://www.politico.com/story/2014/01/unemployment-benefits-update-102165.html
This article was written after the article in my most recent post. Where the last article discussed the controversy of implementing such an idea, this article discusses Senate denying it. In two different votes to extend unemployment benefits, the bill was rejected 52-48 and 55-45, where a vote of at least 60 was necessary to pass it.
I believe it was a good thing that this bill was not passed, it would have increased the deficit and caused the United States to extend our "mandatory spending cuts" all the way until 2024. Although spending cuts are deemed necessary with the current state of our economy, the money could be used to fix other problems instead of possibly creating new ones.
Issues like this are always extremely difficult because there are many pros and cons of both sides, and someone will always end up dissatisfied with the final decision. Furthermore, it is difficult to get a majority vote to pass such a bill that has unexpected outcomes.
As we have recently learned about real GDP and the components of GDP, what component do you believe could best stimulate the economy and help it in the direction of substantial positive growth, consumer spending, government spending, investments, or exports and imports?
Wednesday, January 15, 2014
The Fight Over Unemployment Benefits Underscores the Right's Extremism: The Daily Beast
http://www.thedailybeast.com/articles/2014/01/13/the-fight-over-unemployment-benefits-underscores-the-right-s-extremism.html
Before reading this article, let me warn you that it is extremely biased and exaggerated. However, I thought that it would be a good article to post and discuss with all of you due to the difference in nature compared to my other articles. Generally, I responded to articles discussing the unemployment rate, while this article discusses the unemployment benefits offered by our government.
Especially after the socratic seminar today, I thought it would be interesting to hear all of your opinions.
Behind all of the bias and cynical filler information, the meat of the article stems from the idea that Congress is attempting to extend unemployment benefits, and statistically speaking, 58% of the population supports it also. However, the Republicans continue to vote against this idea, even though through past trends when a Republican President was attempting to pass such extensions, they voted for it.
While I don't necessarily believe that that is the only reason they are voting against this, it is definitely something to consider. Personally, I think that extending unemployment benefits could be hazardous for our nation's economic prosperity. Extending the benefits will only create a larger deficit, something I don't think that we, as a country, can afford at the present time. Also, continuing part of the topics discussed in the socratic seminar today, if the benefits are extended, there will certainly be less incentive to look for employment, at least in terms of the time period in which it is done.
Before reading this article, let me warn you that it is extremely biased and exaggerated. However, I thought that it would be a good article to post and discuss with all of you due to the difference in nature compared to my other articles. Generally, I responded to articles discussing the unemployment rate, while this article discusses the unemployment benefits offered by our government.
Especially after the socratic seminar today, I thought it would be interesting to hear all of your opinions.
Behind all of the bias and cynical filler information, the meat of the article stems from the idea that Congress is attempting to extend unemployment benefits, and statistically speaking, 58% of the population supports it also. However, the Republicans continue to vote against this idea, even though through past trends when a Republican President was attempting to pass such extensions, they voted for it.
While I don't necessarily believe that that is the only reason they are voting against this, it is definitely something to consider. Personally, I think that extending unemployment benefits could be hazardous for our nation's economic prosperity. Extending the benefits will only create a larger deficit, something I don't think that we, as a country, can afford at the present time. Also, continuing part of the topics discussed in the socratic seminar today, if the benefits are extended, there will certainly be less incentive to look for employment, at least in terms of the time period in which it is done.
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