December 2nd, 2020
“STIMULUS” SPENDING WILL IN REALITY CAUSE JOB LOSSES!
The $900 billion spending bill signed into law last week will not create jobs; it is a massive job killer, according to Jim Tobin, economist and president of Taxpayer Education Foundation (TEF).
“A recent study published by the Committee To Unleash Prosperity (CTUP) found that The $900 billion spending bill signed into law last week does not create jobs,” said Tobin. “On the contrary, all of the government payments give money to people for NOT working or dispense ‘free money’ not related to work.”
According to CTUP senior fellow and University of Chicago economist Casey Mulligan,
- $300 unemployment weekly bonus unemployment benefits — 3 million lost jobs
- Rental assistance of approximately $48 weekly – 0.5 million lost jobs
- Food stamps and $600 stimulus —> 0.5 to 0.9 million lost jobs
- Overall Impact: 4 million to 4.4 million lost jobs!
“The study concludes that if the payments go to $2,000 per person, one of Trump and Pelosi’s worst ideas, these employment losses could jump to more than 5 million over the next three months!”