A large video display reads “Now hiring for our new hotel coming soon!,” at the new Emerald Queen Casino in Tacoma, Wash./AP Photo (Brad Polumbo, Foundation for Economic Education ) Here are FEE, we predicted from the beginning of the pandemic that Congress’s decision to create an unemployment benefits system paying most individuals more on welfare than they earned by working would backfire.
We weren’t the only ones.
The nonpartisan Congressional Budget Office similarly cautioned that this move would cause unemployment and hurt the economy.The system has offered many unemployed households the equivalent of $25/hour in benefits for staying home. It […]
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