The continuing weakness in the job market, which I wrote about this morning, means that the debate over unemployment benefits will get more heated.
I’ve already noted that even left-wing academics like Paul Krugman and Larry Summers have admitted that you get more unemployment when you subsidize joblessness.
And I’ve cited some good research on the topic from the San Francisco Federal Reserve Bank, as well as other studies by academic economists.
But none of this evidence seems to matter, as I discovered in this debate with a former Obama Labor Department official.
Last but not least, this cartoon does a very good who of teaching about the economics of unemployment insurance. And if you want to understand the absurdity of the left, this post shows Nancy Pelosi is a train wreck of economic illiteracy.
The Labor Department just released its monthly employment report and the White House is probably not happy.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
In Other News: New Captain America Will be Black; Racist Liberals Suddenly Become Fans | Michael Schaus