Capitalism US politics



Leftist Nancy ‘Stretch’ Pelosi is an economic ignoramus

Pelosi: Extending Unemployment Benefits Would Create ‘600,000 Jobs’

(CNS News) — House Minority Leader Nancy Pelosi (D-Calif.) said that extending unemployment benefits would add “600,000 jobs to our economy.”

She also said that the money from unemployment benefits creates a “safety net” for the U.S. economy because it “injects demand into the economy — creating jobs.”

“The payroll tax cut that the president proposed would put $1,500 in the pockets of 160 million Americans,” she said. “The unemployment insurance extension is not only good for individuals. It has a macroeconomic impact. As macroeconomic advisers have stated, it would make a difference of 600,000 jobs to our economy.”

Via Weasel Zippers 

NOTE: Job creation depends solely upon the distribution of wealth within the free market, not from government. Leftists and other statists are always confused about ownership of wealth, they believe that an amount of wealth amassed by one person is always at the expense of those lower on the economic totem pole.

It’s a fact however, that a person’s own personal wealth has little to do with another’s, it’s the creation of wealth (job creation) that directly effects the well being, or financial status of the individual and society at large, not the government spreading limited amounts through entitlement programs. Every time the government dips its hands into the coffers of the private sector, it’s taking wealth creation dollars from the free market place. No amount of class warfare mumbo jumbo will change that simple fact.

Government can’t create wealth, it can only destroy it. KGS


2 Responses

  1. Comrade Pelosi wants to extend unemployment payments to ‘purchase’ more votes for the DemocRAT party. The welfare state never created jobs by handing out money.

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