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EXCLUSIVE: Top Trump White House Economist Rips Biden, Pandemic Unemployment Bonus

  • A former senior White House economist has criticized the current administration for continuing pandemic aid to unemployment to the detriment of U.S. workers.
  • “The whole charity is aimed at only 20 million people, or who are reaping the benefits,” Casey Mulligan, a former senior economist on the Board of Economic Advisers and professor of economics at the University of Chicago, told the Daily Caller News Foundation. “140 million people who actually work don’t get anything.”
  • While the huge unemployment pandemic payments could benefit Americans in the short term, they could hurt millions of workers who, according to Mulligan, have lost more than a year of experience.

A former senior White House economist has criticized the current administration for continuing pandemic aid to unemployment to the detriment of U.S. workers.

Casey Mulligan, who for many years served under former President Donald Trump as chief economist on the Economic Advisory Board (CEA), said the $ 300 unemployment pandemic was due to several people in an interview with the Daily Caller News Foundation. Officials in President Joe Biden’s administration should not be surprised by the detrimental and predictable consequences of the benefits, he added.

“All the charity is focused on just 20 million people or on fundraising,” Mulligan, also a professor of economics at the University of Chicago, told the DCNF. “140 million people who actually work don’t get anything.”

In March, Biden signed a $ 2 trillion US bailout plan that extended the Federal Unemployment Pandemic Compensation Program (FPUC) until September. The program rewards unemployed Americans with $ 300 a week in addition to government benefits. (CONTACT: ‘Good sign’: Fewer people report unemployment in states that lower the federal bonus)

But half of all states have dropped the program, and Louisiana is designed to be removed from it by the end of this month. Governors have charged worsening labor shortages, or increasing the number of jobs, about the federal bonus, they said is stimulated disabled Americans who are not looking for a job as the economy recovers.

“These payments discourage people from returning to work,” said Iowa Gov. Kim Reynolds. he said in May, the state announced it would not offer FPUC payments from June.

President Joe Biden arrives to speak on the June 2 job report (Mandel Ngan / AFP via Getty Images)

President Joe Biden arrives to speak on the June 2 job report (Mandel Ngan / AFP via Getty Images)

Mulligan applauded governors like Reynolds and said they were looking for them. millions of workers who are left destitute due to labor shortages.

“A lot of people work too hard because they don’t have partners to help,” he told the DCNF. “And they’re not really happy about that.”

Alaska, Iowa, Mississippi and Missouri were the first to be expelled from the FPUC on June 12. (MEETING: Republican primary demand Janet Yellen testifies to about $ 44 billion from the unused COVID fund)

In these states, the number of people applying for weekly unemployment claims has dropped by more than 33% in the four weeks since June 12 compared to the previous four weeks. according to to data from the Department of Labor, which was analyzed by the DCNF. Initial claims fell by about 4% over the same period, in states that remain on the program until the end of the term.

“If you pay for something, you get more out of it,” Mulligan said. “If you pay for unemployment, you get more unemployment.”

“Really, what’s going on here,” he continued. “I know the Biden people are acting surprisingly, but that’s something we predicted as a number, and all the different stereotypes were known and predicted a year ago.”

The chairman of the Economic Advisory Board, Cecilia Rose, spoke at a news conference on May 14. (Drew Angerer / Getty Images)

The chairman of the Economic Advisory Board, Cecilia Rose, spoke at a news conference on May 14. (Drew Angerer / Getty Images)

The Biden administration has said over and over again it has not seen “much evidence” that interest has led to an increase in the number of jobs. The White House has also suggested that companies should raise wages to attract workers who earn more from unemployment.

“The way a market economy works is that we work through prices as a signal,” said CEA President Cecilia Rose. he said reporters in May. “So wages are the price we work in the labor market. So, this will be a natural way for employers to attract employees ”.

Mulligan accused the White House of “arguing on both sides of his mouth.” (CONTACT: Obama’s Best Economist: The benefits of unemployment, not lack of child care, can be detrimental to recovery)

Mulligan said, on the one hand, the administration has argued that the FPUC does not encourage unemployed Americans to look for work. But on the other hand, it was argued that a $ 300 profit could lead to an increase in wages because employers should prioritize government assistance.

Moreover, while large unemployment benefits may benefit workers in the short term, they can be detrimental to millions of Americans in the long run, Mulligan said.

“When this reward doesn’t exist, what will happen to the workers in the long run? They will wake up at the end of 2021 and they won’t have the work experience they would have if they had worked,” Mulligan said.

“They may be replaced by a younger person who is not entitled to unemployment, replaced by a robot, or the consumer can move his expenses to places where there are no workers instead of the job seekers who actually get a certain value.” he added.

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https://dailycaller.com/2021/07/21/donald-trump-white-house-council-of-economic-advisers-joe-biden/ | EXCLUSIVE: Top Trump White House Economist Rips Biden, Pandemic Unemployment Bonus

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