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Temporary Unemployment Benefits � Permanent Welfare?
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The White House on July 21 extolled the extension of unemployment insurance by the Senate, claiming it was �not only the decent thing to do but one of the most effective ways to boost our economy.� President Obama signed the extension into law immediately, saying that this was �desperately needed assistance to two and a half million Americans who lost their jobs in the recession�Americans who�will finally get the support they need to get back on their feet during these tough economic times.�

Alan Reynolds of the Cato Institute strongly disagrees that such action was �decent� or �effective,� stating flatly that such extension of benefits will not only increase the amount of unemployment in the workforce, but also the length of time those workers will stay unemployed. �When the government pays people 50-60 percent of their previous wage to stay home for a year or more, many of them do just that,� according to Reynolds. �Extending unemployment benefits [is] guaranteed to leave many more people unemployed for many more months.�

He adds, �The unemployment rate has been rising because unprecedented numbers of those who became unemployed six to 19 months ago are remaining �on the dole� until their benefits are nearly exhausted.� Assistant Secretary of the Treasury Alan Krueger and Bruce Meyer of the University of Chicago, in a 2002 survey, confirmed that �unemployment insurance and worker�s compensation insurance � tend to increase the length of time employees spend out of work.�
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