What 'The Daily Show' Did to Kamala Harris Was Brutal and Accurate
Another Fake News Story About Trump and the Third Reich Just Imploded
Yes, This Actually Happened on Wheel of Fortune
Democrats Getting Rich Off of Child Trafficking, Border Crisis
Loose Talk About the End of Everything
The Latest Climate Grift: ‘Carbon-Free’ Human Composting
In 'Stunning Rebuke,' Chicago City Council Backs Effort to Block Mayor From Canceling...
IDF Announces the Bodies of Three More Hostages Have Been Recovered
'What Are They Trying to Hide?': Lawmakers Skewer ATF Over Fatal Arkansas Raid
Laughing at Brian Stelter's MAGA-Fascist Fiction
Only Trump Can Launch and Win a War Against the DEI Army
You and What Army, ICC?
Biden Not Fooling Voters on Economy
How Should We Respond to European Recognition of a Palestinian State?
Palestinians and Israelis: A Loathe Story
OPINION

What Does 99 Weeks of Unemployment Buy? America

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Every Thursday, the financial markets wait with bated breath for the weekly jobless claims report. 

The pundits claim any number below 400,000 is reason for optimism. 

Advertisement

If the number is above 400,000, the analysts say just wait until next week. 

It’s not that 400,000 people seeking first time unemployment checks is somehow a mystical line in the sand, it’s just the accepted number for economic improvement. 

In addition to the magical Thursday number are the always expected words “revised from an initial estimate.” 

Somehow, the BLS always understates the initial number and then always revises it upward. 

Is it even statistically possible to have that happen week after week after week (conspiracy theory?) 

While most people anticipate the Thursday jobs number and salivate even more while awaiting the monthly employment report, I turn my attention to the one line in the weekly report, which to me, says it all. 

The information I’m referring to is usually included at the end the report, but rarely discussed. 

It’s the total number of people who have received some kind of government benefit. 

The initial form of unemployment compensation is a payment made by the state that usually lasts for 26 weeks. 

As the crisis mounted and unemployment substantially increased, the federal government stepped in to create an additional safety net. 

Benefits were continually lengthened to such an extent that we now have what is called EUC (Emergency Unemployment Compensation), a combination of state and federal benefits lasting as long as 99 weeks. 

Advertisement

When this number was initially established, nobody really thought Americans would be out of work for 99 weeks. 

That kind of thinking in America was ludicrous, and even heretical. 

Now, it seems heresy has turned into reality with ongoing governmental discussions regarding doubling the time of unemployment benefits. 

I’ll let others debate the pros and cons (material for another column.) 

What I do know, however, is that the more than 1.6 million people have dropped from the expanded unemployment rolls over the past year. 

That means no job, no income, no money, and clearly no hope. 

The numbers game played by the administration cannot couch the reality that the 1.6 million people desperately searching for work each and every day are facing extremely long odds. 

This is not recessionary fiction, its definite economic depression fact. 

It’s time to repatriate the jobs from overseas and put Americans back to work. 

I know of 1.6 million Americans who would certainly agree with me


 

John Ransom | Create Your Badge

Twitter http://twitter.com/#!/bamransom -See more top stories from Townhall Finance. New Homepage, more content. Be the best informed fiscal conservative.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos