Sunday August 9, 2020
84 Days until the election on November 3rd
164 Days until the Inauguration on January 20, 2021
The argument goes that people are staying home and not working because they can make more money staying home than working.
This is usually wrapped up in a few other comments like, “I’m no expert.” And “Common sense tells me…” and “People smarter than me…”
Well, let’s break it down shall we?
Austan Goolsbee who chaired Obama’s Council of Economic Advisors was asked this question last night. I consider him someone more knowledgeable about economic things than me. So I consider him an expert and smarter than me, at least in economic things.
What did Austan have to say?
He said there have been five studies that looked at this exact question. That is, “Are people staying at home collecting $600 rather than working?”
In the five studies that have been done on this question, all five studies found NO EVIDENCE of that being the case.
Well, what about common sense?
Ah Austan made the point that five million people who have their health care tied to their job have lost their jobs. So he asked would you give up your health care to get $600 a week? Hum. I don’t think so.
He made another point and that is that for every job out there five people are looking for it. So it seems that there aren’t enough jobs. Isn’t that what common sense would tell you?
Oh but hold on. There’s the deficit. What about the deficit? I mean we can’t afford it, right?
Once again Mr. Goolsbee made a point. He found it interesting that the Republicans somehow found a way to give the rich and corporations two trillion dollars and that ballooned to five trillion and now all of a sudden they want to say we don’t have the money?
By the way the trillions given to the wealthy and corporations did little for the economy, Whereas giving money to people who need to buy food and pay rent would immediately go back into the economy. But that’s just my economic analysis.
Trump has signed an executive order that is a probably illegal that wants to steal money from Social Security and who wants to put the burden on the states to ante up. That is cute. The states are on the verge of bankruptcy. Remember that was the only plan voiced so far by the Republican leader of the Senate. “Let them go bankrupt.”
We have now crossed the five million mark in infections. So much winning.
84 Days until the election on November 3rd
164 Days until the Inauguration on January 20, 2021
PS My summer cottage.
(Maybe, not. Maybe the Central Museum of Jaipur in Delhi. You be the judge.)
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