Hoyer: Food Stamps, Unemployment Insurance 2 'Most Stimulative' Things for Economy

Discussion in 'Politics' started by Matthew, Jul 17, 2012.

  1. Matthew
    Online

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,673
    Thanks Received:
    4,595
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,151
    Hoyer: Food Stamps, Unemployment Insurance 2 'Most Stimulative' Things for Economy
    CNSNews ^
    Hoyer: Food Stamps, Unemployment Insurance 2 'Most Stimulative' Things for Economy | CNSNews.com


    Hoyer: Food Stamps, Unemployment Insurance 2 'Most Stimulative' Things for Economy By Elizabeth Harrington July 17, 2012

    (CNSNews.com) – House Minority Whip Steny Hoyer (D-Md.) said Tuesday that food stamps and unemployment insurance are the two "most stimulative" t things you can do for the economy.

    During a pen and pad briefing with reporters on Capitol Hill, Hoyer was asked if any Democrats are “reconsidering the wisdom” of letting the Bush tax cuts expire at year’s end for the top income earners given the still struggling U.S. economy.

    "I haven’t talked to any who are of that mind," said Hoyer. "If you talk to economists, they will tell you there are two things that are the most stimulative that you can do -- one’s unemployment insurance, the other’s food stamps, okay?”

    “Why is that?” he said. “Because those folks who receive those resources must spend them. And they’ll spend them almost upon receipt. Most economists with whom I talk believe that those with significant discretionary income, that that’s not the case.”

    Unless action is taken by Congress, the Bush tax cuts will expire on Jan. 1, 2013. Originally enacted in 2001 and 2003, President Barack Obama and Congress renewed the cuts for all income-brackets for two years in 2010.

    Obama and the Democrats are now proposing that the rates be extended for one more year, until the end of 2013, for people earning less than $250,000 a year, while Republicans want the rates extended for people in all income brackets.

    ----

    I honestly do NOT understand how giving free stuff to people=stimulative for economic growth. Money doesn't grow on tree's...It is made through growing the economic pie. Growing the size of the economy through building businesses and growing wealth of all the classes does.

    I wish to learn your reasoning to why you believe this my friends on the left. Is this really sound economics?
     
    • Thank You! Thank You! x 1
    Last edited: Jul 17, 2012
  2. Inthemiddle
    Offline

    Inthemiddle BANNED

    Joined:
    Oct 4, 2011
    Messages:
    6,354
    Thanks Received:
    674
    Trophy Points:
    0
    Ratings:
    +674
    You don't understand how allowing lower and middle class people to retain more of their money and be taxed less will stimulate the economy? Alright, let me explain it to you from the beginning. This is a penny. If you have 100 pennies, you will have a dollar....
     
  3. Lakhota
    Offline

    Lakhota Diamond Member

    Joined:
    Jul 14, 2011
    Messages:
    47,699
    Thanks Received:
    4,705
    Trophy Points:
    1,855
    Location:
    Native America
    Ratings:
    +15,970
    I agree, because most recipients need to spend it quickly to survive.
     
  4. Joshuatree
    Offline

    Joshuatree VIP Member

    Joined:
    Apr 4, 2012
    Messages:
    323
    Thanks Received:
    43
    Trophy Points:
    66
    Ratings:
    +43
    Don't you guys think there's too many people on welfare yet?
     
  5. Rozman
    Offline

    Rozman Gold Member Supporting Member

    Joined:
    Sep 18, 2009
    Messages:
    16,573
    Thanks Received:
    3,060
    Trophy Points:
    290
    Location:
    Brooklyn,NY
    Ratings:
    +6,687
    Oh are we back to the argument here again that Princess Nancy brought up a while back.
    Where it's better to have people collect unemployment checks then work because we get more
    "bang for the buck" with more people collecting unemployment...

    I thought it would be be better for us all if people had jobs.
    But hey that's just me.... :D
     
  6. occupied
    Offline

    occupied Gold Member

    Joined:
    Nov 8, 2011
    Messages:
    16,407
    Thanks Received:
    2,247
    Trophy Points:
    280
    Ratings:
    +5,732
    No matter what your feelings on foodstamps and unemployment it is correct that they have the most immediate stimulative effect on the economy, not to mention that the country's food industry would crash without them.
     
  7. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    Where do you think the money comes from, Lucky the Leprechaun?
     
  8. alan1
    Offline

    alan1 USMB Mod Staff Member Supporting Member

    Joined:
    Dec 13, 2008
    Messages:
    18,845
    Thanks Received:
    3,577
    Trophy Points:
    245
    Location:
    Shoveling the ashes
    Ratings:
    +3,769
    I wonder how much of that EBT and unemployment insurance money ends up in the hands of Fortune 500 companies (big oil, Walmart, Kroger, Target, Family Dollar, Dollar General, etc)?
     
  9. Matthew
    Online

    Matthew Blue dog all the way!

    Joined:
    Mar 16, 2010
    Messages:
    49,673
    Thanks Received:
    4,595
    Trophy Points:
    1,885
    Location:
    Portland Oregon
    Ratings:
    +15,151
    Welfare money comes from somewhere...Government either taxes another class or creates it out of thin air to give to the lower class. I'm not saying I'm opposed to helping people, but it may not be fair or sound long term.
     
    Last edited: Jul 17, 2012
  10. Inthemiddle
    Offline

    Inthemiddle BANNED

    Joined:
    Oct 4, 2011
    Messages:
    6,354
    Thanks Received:
    674
    Trophy Points:
    0
    Ratings:
    +674
    From the paychecks that people would be keeping larger portions of. C'mon, you're not this stupid.
     

Share This Page