let me take you back a year two years when we were having a discussion every
couple of months
on whether we should extend unemployment benefits for those who could not find
work
and weak Senate for far longer than we traditionally had because they're really
gave seventy three weeks
exactly very long period of time in his are people that were having a bad
a very hard time finding work over a longer than a year search
but eventually we lost out on that back in December they decided we're not going
to extend it for many people many people lost
their benefit 1.3 million just in that particular cut lost their benefits
and the argument at the time was these people are receiving government money
they don't have an incentive incentive to find work if we cut the money
then they'll get off their lazy asses and I'll go find jobs
well unfortunately people who are making their argument that is the sort of
assertion that can be checked up on
they have data and/or a look at how that worked out
now several months later let's bring up this chart showing the people who had a
would commit cut off from unemployment benefits one-quarter
found a job in that time a half are still looking
unsuccessfully for a job and another at more than a quarter have stopped looking
for work
and so maybe if you are a conservative who wanted them cut off we thought that
would put a buoyant are asked to go out and get a job maybe this seems like a
good information to you
it doesn't to me it looks like people who were on those unemployment benefits
legitimately could not find work and work did not magically appear because
now they have a few thousand dollars
less per month to pay for food and transportation yeah I mean the data here
sorta undeniable
and and what makes it worse is that the longer you're unemployed the worse it is
whatcha been unemployed longer than six months bring bring that up action taken
all three points
but the numbers go down even more and you're even less likely to work
yet yeah exactly what Ben said there you see that it's
very slightly getting better over the course between about 2010 to 2014
but US all-points have a much harder time finding work
if you've been looking for for more than six months there's a number of reasons
why that could be true and buy with the uptick real quick on the six but less so
that's just the
economy get better exactly yet we have seen some I mean not necessarily wages
are anything but we've seen unemployment rate has gone down
I'm be added and it's just terrible information and and their consequences
this as well
Britain's third graphic here this is what happens when you cut off
benefits for the long-term unemployed you see a poverty spike you see many
one-third turning to government assistance
which palatable idea was given of it they go to a different format that
and ninety percent become to some extent a burden if
if I just Bible 1 on the other family members
or they have to take money prematurely at a retirement savings accounts
and understand that when when you're talking about the the billions dollars
that have been saved by not giving the money to them
that is money that would have been spent locally every single dollar
that would have been spent in their communities and has not been spent which
has a negative consequence on the economy
get 5.4 billion dollars and your overall and like for example
you know Illinois that's just $25 million bucks in illinois today
every week the Illinois doesn't get generator Recari really get his keys
keyboard
had a good they're not like a they're not
they're not the one percent you're not the elite reg who earn their money
Dudek with it right I could put more in a test flight
by totally probably not you know what stocks to buy this week's we know they
take the money
let's do gold this time i buy some gold
we get the money and then they go to they go to buy stuff yet
to feed their families and that getting up to the company works here that's
really thats really hot
at how this great to get low capitalism so much know that our
about a really weird about the the longer people have been unemployed
whether I i'm curious whether that as you know more people
turn away and stop participating in the program entirely they've stopped looking
for work they get so the score
still discouraged Bob but also along with the
the long-term unemployed people but employed longer that's it was there
slightly more educated than the broader population a job seeker so the long-term
unemployed
are well-educated people I would imagine older
and I imagine that there is probably some amount discrimination against
people who world are you want younger
and I wonder whether all I wonder if there's no recriminations like why
haven't you worked in nine months
exactly it seems to imply something I mean look at how republicans in congress
are treating them they were talking they're casting aspersions about their
work ethic
and things like that is it impossible to believe that a business owner would feel
the same way
and so %uh the basic argument as I said was that this will force them to go work
but that's not necessarily the case and if you want to get in this order
psychological incentives to do something or monetary incentives
there are those who believe that when they were on the assistance you were
required to show the work you are doing to try to find jobs at that point
now that you're cut off you don't have that incentive every week to show that
you been applying to places
and so perversely as might also made it less likely that people would seek out
work
in their words leave it out there being a dick part like his people will need
money
anybody to pay their bills that need money not to be stressed out the money
to take care their families exactly
and and people we're supposed to look out for the people it's just that
that's what I think america supposed to do I get it you wouldn't want to do it
long-term if it bad that they were like
are just take this twelve dollars every two weeks and I'll do nothing
yet but that's not what happened before it'd you've done nothing
except take the money from them and then and take the money
from local communities where they will spend the money it just its so dumb
it it's not only mean it down