President Obama talked on unemployment insurance and insisted that we should maintain the vital support line. While doing so, he praised his and his team's efforts on the economic recovery. The economy is back, and the unemployment is down. We went through the recession that are so hard on many of us. We extended the unemployment insurance back in the recession.
So at this point, my head screwed up a bit. What exactly is he saying? The economy is back again, then we do not need stimulus anymore. Shall we keep the extension now? Where is the funding, and how much does it costs?
President Obama continued on with his talk. Cutting the unemployment insurance won't create jobs, he insisted. The insurance money, however, will be spent and that helps the economy booming. He talked as if the insurance is exactly like welfare money. Whether the extension of unemployment insurance is harmful or not, would depend on how he gets the money from. Is it tax hikes, or borrowing? Either way, it would harm not benefit the economy.
What is good for the economy? How do we lower unemployment rates? Is the extension of unemployment insurance the answer? It is the election year. The President now more than ever is so keen on spending, and spending for the needy, while our debt exceeded $17 trillion already. The accumulated debt threaten our economy and security. The US presence in the world is weakening and the waning influence of the leader of the free world is the greatest threat to freedom, democracy, and the national interests. Meanwhile, the President seems still to care nothing but the election.
Let us hope the Congress will vote for what is good for us as a nation, and for the economy.