The [Council of Economic Advisers]’s report, which details how a failure to extend the aid would affect people on a state-by-state level, says nearly seven million Americans could lose coverage by the end of next year and that 600,000 jobs are at stake. Goolsbee contended the gross domestic product would be six-tenths of a percent point lower in December of next year if the benefits are not extended, slowing the nation's recovery from the worst recession since the Great Depression.In order to preserve the GDP and prevent the loss of even more jobs, Congress must act quickly to take money from people who create jobs and give it to people who do not have jobs. Poorer people spend more of their money than rich people (who would just do socially irresponsible things like save or invest their money), so if we simply give poor and unemployed people more money, they will spend their way out of our recession.
According to an earlier report by the National Employment Law Project, some two million workers nationally could lose benefits in December if they are not extended, an estimate the CEA also uses. The U.S. Joint Economic Committee estimates failure to extend the benefits program "would drain the economy of $80 billion in purchasing power and result in the loss of over one million jobs over the next year."
Additionally, Congress should hire little boys to wander around towns and break windows. True, shopkeepers would have to pay to replace them, but just think of all the money that would be spent on windowmakers and glaziers. They would have to hire many more employees to keep up with the increasing demand for their services and they would have more money to spend, creating even more jobs. Our high unemployment rate would fall dramatically!
