Now is not the time to cut off unemployment benefitsin this country.
Admittedly, extending the benefits will add to the Federal budget deficit, but not doing so will add to mortgage delinquencies and homelessness and will only serve to impede the still fragile recovery currently under way.
Today’s Wall Street Journal’s editorial argues that “supporting jobless benefits on compassion grounds…..keep[s] people out of the job market”.That is a simplistic notion which may carry a logical appeal, but it is neither accurate nor is it applicable in this economic environment. If that were really the case, then why have so many people given up looking for a job? How will cutting off unemployment benefits make a job miraculously appear?
It is spurious logic.
Each recession has different causes, and those causes affect the duration.