On the recordNovember 30, 2010
We want to respond to the needs of so many families, working families. And this is one of those programs that, by definition--if you qualify for unemployment benefits, you had a job, you just lost it. So these are working families who are now looking for some support as they search desperately for jobs. As we pointed out too, not just in terms of the individual recipients but for the economy overall, the benefit is substantial. It is about $1.90 in economic activity for every $1 that we put into the benefit. On the other side of the spectrum, economists have looked at the impact of these tax cuts for the wealthiest Americans and find very little growth in economic activity, and, frankly, that makes sense. If you are struggling at $368 a month, it is not going to go into your vacation fund or for buying objects of art. It is going to go to the grocery store and into all of the demands of a family.
