Democracy Soup

Making sense out of the world of politics

Paul Krugman explains well why unemployment benefits are needed

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[http://www.colbertnation.com/the-colbert-report-videos/340746/july-05-2010/unemployment-benefits—paul-krugman]

Many have tried to explain the virtues of needing unemployment benefits. Unfortunately, the hundreds who don’t think unemployment benefits are good for our country have power, and most of those people have (R) next to them and work in Congress representing their states.

Paul Krugman is one of the best at explaining why unemployment benefits are needed: money in the pockets of those who need it most and will instantly spend it into what is left of our economy.

“One of the most effective ways of getting spending power out there into the economy during this distressed time is to put money in the hands of people who desperately need the money and are going to spend it.”

Let’s not try and make the same mistakes of the 1930s, can we?

Paul Krugman was on the Colbert Report last night. And since you were probably feeding your face with hamburgers, hot dogs, and potato chips, the video link is there at the top.

And here is Krugman in the old school format in The New York Times on the same subject.

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