Your goldfish bowl is too small

I am a happy follower of the Gormogons, but I must disagree with at least one of the statements in this list:

3. Despite liberal claims, unemployment benefits are not stimulative. You are taking from the working, whether through the direct unemployment insurance tax, or through stealing from future generations by bonding, so there is no impact to unemployment insurance. It would be equally “stimulative” to leave the money in the pockets of those who earned it in the first instance, rather than “spread[ing] the wealth around.”

This would be absolutely true if the only way to raise money would be to raise it from Americans. But a good chunk of the money we’re using to pay for unemployment benefits is coming from other countries. China and Germany and all the other people who want to buy US treasury bonds at ridiculously low prices are providing us the stimulus to get our economy going. They are, in essence, depriving themselves in order to give us money, almost for free. Thanks!!!!!


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