administrator Site Admin
Joined: 28 Dec 2005 Posts: 12651
|
Posted: Fri Feb 28, 2014 12:18 am Post subject: Shrinking Economy - Welfare Reform |
|
|
PeakTrader:
I’ve explained before, we need to remove and reduce regulations (e.g., getting rid of $1 trillion of the $2 trillion a year in federal regulations), reduce taxes, fees, fines, fares, tolls, etc. (e.g. by several hundred billion dollars a year), and raise the minimum wage (up to $15 an hour), not only to help lower income Americans, but to raise employment and tax revenue, and reduce spending on the unemployed.
Otherwise, this will continue, i.e. more destruction of potential output with low actual output:
http://stateofworkingamerica.org/charts/output-gap-real-gdp-compared-to-potential-gdp-2000-11/
Over 20 million Americans remain unemployed or underemployed, and we really haven’t dug-out of the 2007-09 recession yet. It’s been a recoverless expansion, since June 2009.
It’s interesting, some people believe Americans will get more for less with more unemployment, more red tape, more taxes and/or fines, etc..
Those people are in for a rude awakening, particularly as the U.S. economy continues to shrink and they become poorer.
---
PeakTrader:
The left-leaning Brookings Institution concluded Clinton’s welfare reform worked, at least before the work requirement was watered-down substantially.
Welfare Reform, Success or Failure? It Worked
March 15, 2006
“Welfare reform has been a triumph for the federal government and the states — and even more for single mothers.”
http://www.brookings.edu/research/articles/2006/03/15welfare-haskins
--- |
|