White House spokeswoman Jen Psaki claimed that most economists in the White House agree that paying people an extra $300 a week in unemployment through September, even though the pandemic is obviously already winding down, is keeping them from taking jobs. As it stands now, many employers can’t find enough workers because if you earn less than $32,000 a year, you’ll make more sitting on the couch. I think this tells us more about the economists the White House listens to than it does about the economy.
But President Biden reminded Americans that if you’re on Unemployment, you’re expected to take any suitable job offer. And of course, nobody ever figured out a way to get around that. The fact that he felt the need to say that at all seems to imply that they do know that’s happening.
But my favorite Democrat attempt to do an end-run around reality came from socialist Sen. Bernie Sanders, who blamed the complaints about incentivizing unemployment on “greed.” He tweeted that there’s a “simple solution” if businesses can’t find workers: simply raise wages and give more benefits.
That’s precisely the kind of authoritative wisdom about business that I’d expect from someone who failed at every endeavor he tried in life until he entered “public service,” and then somehow became a millionaire who owns three houses. As the owner of a number of business endeavors, I hate to break it to the Senator, but do you know what happens when you pay people far more money than you actually have and provide far more benefits than you can afford? You end up very deep in debt and in danger of going bankrupt.
Even with zero business experience, Bernie should know that, since it’s precisely what he and his “progressive” pals in Congress have done to America.