Pelosi logic: Extend jobless benefits another year to grow economy

The best way to grow the economy is to extend unemployment benefits – again, U.S. House Minority Leader Nancy Pelosi, D-Calif., said at a Capitol Hill news conference on Thursday.

At the Democrat-led hearing, witnesses spoke “passionately” about the estimated 1.3 million Americans whose unemployment benefits will expire at the end of the year, according to CNS News.

“Economists agree that unemployment benefits remain one of the best ways to grow the economy in a very immediate way,” Pelosi said. “It immediately injects demand into our markets and increases employment. For every dollar spent on unemployment benefits, the economy grows by, according to one estimate, $1.52; by others, $2. So somewhere in that range, but much more than is spent on it.”

Failure to extend the benefits would put 200,000 jobs in jeopardy, Pelosi said, citing Congressional Budget Office data.

“We have a responsibility to the American people,” the minority leader said. These are people who have played by the rules, have lost their job through no fault of their own, and need these benefits in order to survive. So we must extend this insurance before the end of the year, and we must extend it for at least a year.”

Pelosi is hoping to get the measure included in the pending budget deal, but time is running out and House Republicans may not go along, according to CNS News, which reported:

House Speaker John Boehner, R-Ohio, told Americans on Thursday that he would “surely entertain” a Democratic plan for extending unemployment benefits, but he also said that’s not where the focus should be: “I would argue the president’s real focus ought to be creating a better environment for our economy and creating more jobs for the American people. That’s where the focus is, not more government programs.”

Watch Pelosi’s comments here via CNS News:

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About Cheryl Carpenter Klimek

Cheryl Carpenter Klimek has been a political consultant handling public affairs and PAC management for nearly 20 years. Cheryl can be reached by email at Cheryl@bizpacreview.com & on Twitter @CherylBPR

  • sonney

    If the government didn’t spend 600 million dollars on this Obamacare Website then they could have written us a check for 2 million dollars apiece and then see how this economy would have grew. Don’t know how much more it is going to take to fix it. Lets see 315 million Americans 600 million dollars plus that makes us all millionaires think of all the cars and houses it would buy. And don’t forget health care all Americans could afford it.

    • Lynnz

      That would be to easy for our Government to fix a problem !!! They like us under their thumb to much !!! Neither party would never agree to that,But I agree with you 100 %

  • Brandon Johns

    I would like to see her having to apply for jobless benefits.

  • 19Robes50

    I have to wonder how much LSD Ms. Pelosi has used in her lifetime. I am deeply concerned about the people laid off from their jobs. Our president (lower case intended) and Congress have done nothing to correct the jobless rate in this country.

    Perhaps if Ms. Pelosi would donate some of her millions of dollars and convince her friends to donate some of theirs (Reid,Feinstein,Wasserman-Schultz) we might actually be able to extend these benefits she so passionately calls for.