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

[WillowTree]

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 Originally enacted in 2001 and 2003, President Barack Obama and Congress renewed the cuts for all income-brackets for two years in 2010.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.

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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?

unfortunately, he's probably right. I f the private sector won't play ball with the American people, Then the public has little choice. Unless we really want to get crazy and just let people starve...which I'm not into.

then send food stamps to all 350 million Americans at least half of us have paid for them.. pay for your own damn retirement too while your at it. it's a damn fool that bites the hand that feeds him.

 

[Katzndogz]

Liberals believe that if I pay my customers, they will be able to shop in my store. Otherwise, they would not be able to shop and I would have no customers.

This is the kind of sense they consider reasonable.

 

[LogikAndReazon]

That ignorant gem is just precious.............................