Having It Both Ways?
When Unemployment Was Far Higher and Debt Far Lower, Administration Hailed Paying for Extended Unemployment Checks
THEN
October 2009 – unemployment rate 10.0%; debt $7.5 trillion
When an extension of federal unemployment benefits was paid for, the Obama Administration supported in a Statement of Administration Policy (SAP) Congress’ “fiscally responsible approach to expanding unemployment benefits,” stating that, “…fiscal responsibility is central to the medium-term recovery of the economy and the creation of jobs.”
NOW
January 2014 – unemployment rate 7.0%; debt $12.3 trillion
The Director of the President’s National Economic Council, Gene Sperling, said this: “There is no reason why we should have to offset emergency UI…”
Sources: Unemployment rate data from U.S. Department of Labor and debt data from U.S. Department of Treasury.
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