you need to know this ronald reagan and franklin roosevelt are often quoted as
saying the best welfare program as a job
and they were right that's why we need to do what FDR did in the nineteen
thirties we need to create a new Works Progress Administration and make
our government the employer of last resort right now republicans in the
centre blocking
every attempt to extend unemployment benefits yesterday
conservative opposition killed two separate bills to extend benefits
leaving approximately 1.3 million out-of-work Americans
without a way to make ends meet for the third straight week
Republican refusal to extend unemployment insurance is nothing short
of a crime
economy just isn't good enough yet for people to reliably find work
and although the unemployment rate has now been dip down to 6.7 percent the
lowest it's been since President Obama took office
the amount or the number of people actually working actively looking for
work
is shrinking work for
with this is a scary number workforce participation
is now at a thirty six-year low 62.8 percent
and a lotta Khan said this is the main reason the unemployment rate has dropped
its cuz people just given up
there's no jobs out there
so why bang your head against the wall and the reason why is simple the demand
for jobs outpaces the supply
actually others other reasons are pretty simple to
you know we have an insane trade policy in the same tax policy which paper the
the the wealthy over the middle class and ship our jobs overseas and cause us
to buy products from overseas and so we don't make things any more
according to the Economic Policy Institute there are now three job
seekers for every one job opening is resolve all this
approx by four million people have been without a job for 27 weeks or longer and
the long-term
unemployment rate is now the highest it's been it any time since World War
two
were back in the Great Depression
thanks to republican opposition to extending unemployment insurance
many long-term unemployed people will tonight have to worry about whether they
will have enough money to pay their rent
heat their house or even just find a way to get a job interview
where to get to a job interview this is just wrong
it's unacceptable that in the richest country in the history the world
that anyone should have to worry about such basic needs as food and shelter
especially when you consider all the freebies at the government gives to Big
Oil & big banks
but there are
economic as well as moral reasons to extend unemployment insurance
the Moody's Analytics estimates that every dollar spent a jobless benefits
generates a dollar fifty five in economic activity
and that refusing to extend benefits will cost
our economy $39 billion dollars in spending this year alone
giving people money to spend when they wouldn't otherwise have money to spend
generates
economic activity that otherwise wouldn't exist unemployment insurance
has what economists call
a multiplier effect course despite all the evidence showing the giving
out of work Americans money to spend is good for the economy a lot of
conservatives say
well unemployment insurance creates a culture always knows
get a job they scream you can only go ahead by pulling yourself up by your
bootstraps
at a studies do show the people on unemployment insurance work harder
to find a job in people who aren't
on unemployment insurance but there's something that works even better than
unemployment insurance and that's government directly putting people to
work
if republicans were actually serious about helping unemployed people get a
job
as they put it they do one simple thing revive new deal
era programs like FDR's Public Works Administration Works Progress
Administration and the Civilian Conservation Corps
actor in the New Deal unemployed people were put to work building bridges roads
dams and tunnels you name it
the WPA alone was responsible for building 222,000 bridges
500 72,000 miles over all roads
1000 tunnels and nineteen thousand seven hundred miles or water mains
they built America thanks to programs like the WPA the PW a the CCC
the unemployment rate dropped from 25 percent when FDR took office
to 9.6 percent by the time he was elected to a second term in 1936
unemployment shot back up during the many recession 37 38 but he quickly got
back on target
not surprisingly the surge in employment helped out the economy GDP growth
grew at a rate at nine percent per year
over FDR's first term and grew as high as 11 percent per year later on his
presidency
GDP growth slowed during that many recession at 37-38 but
like the unemployment rate got back on track after the recession ended
by the way many economists including Nobel Prize winner Paul Krugman
say that that many recession up 37 38
was caused by the government drawing back down on those successful New Deal
programs down a back because
back in the elections 36 there is all this Sturm and Drang about you know
government borrowing and spending so after years in okay what will slow down
a little bit
and didn't work so
courses many conservatives argue the real thing that brought the US had a
great depression's world war two always world war two if not the biggest
government spending program ever
right now our country is still mired in the aftershocks the worst
economic downturn since the Great Depression
although unemployment is nowhere near size it was rare for Wall Street Crash
the economy
that number is deceptive many people have just given up finding a job because
there aren't jobs out there
and without unemployment insurance millions of people are now living on the
edge it total poverty
congress needs to extend unemployment insurance but it should go even farther
than that and listening what FDR Reagan said about welfare
the best welfare program actually is a job
and that's why congress needs to revive the New Deal programs at work so well
for FDR
eighty years ago capitalism capitalism has always been and always will be
whether it was and Samaria seven thousand years ago in Rome two thousand
years ago today
to cyclical economic system boom-and-bust cycles
happen they're inevitable and that's why a
you know tip to make stability and security in a country
why government has in the past and needs to today
to step in and service the employer of last resort like it in the nineteen
thirties is time
for a new new deal
now wire the republicans not only not going to allow us to have a new deal in
other words this is
they basically this is a variation on what Obama has been saying he wants to
build infrastructure
why are the republicans not going to allow that to happen
it's the same reason that the republicans are not going to allow any
kinda stimulus
it's the same reason why they're screaming about austerity
because they know they're multiplier fact that that grows economies
also works reverse if you cut back on government spending
like roosevelt didn't 37 you put the economy
into a recession and they wanted their
republicans want the economy in a recession yesterday there was a
there was a headline I think was on TPM I
republicans have do have they've
tested their 2014 election strategy
and the 2014 election strategy is going to be economy sucks vote for republicans
an American a SUP the blame in the economy on Obama and the Democrats
and they're saying if you don't want the economy to be so bad but for republicans
when they're the ones who are causing these problems
they're the ones who brought about the crash
they're the ones who are keeping things the way they are they're the ones who
are inflicting all is pain on people
and they are hoping in fact it looks again according to their internal
polling a looks like it might actually work
the people are so upset and so on informed that they are going to blame
President Obama and the Democrats
for this bad economy the that aired kantor in john bainer and Mitch
McConnell have worked so hard
to maintain a his last five years
so we need a new new deal.
handled
we need to wake people up to what the republicans argue that this is just
purely partisan thing ago but you could argue back you know the 1929 1932
when the when October who was not doing a great deal about the Great Crash that
it was ideologically just new
understand economics back to there have that excuse in they know perfectly well