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CNS | Steny Hoyer: Food Stamps and Unemployment Are Great Stimulus Programs





(CNSNews.com) – House Minority Whip  Steny Hoyer (D-Md.) said Tuesday that food stamps and unemployment insurance are the two "most stimulative" t things you can do for the economy.

During a pen and pad briefing with reporters on Capitol Hill, Hoyer  was asked if any Democrats are “reconsidering the wisdom” of letting the  Bush tax cuts expire at year’s end for the top income earners given the  still struggling U.S. economy.

"I haven’t talked to any who are of that mind," said Hoyer. "If you talk to economists, they will tell you there are two things that  are the most stimulative that you can do — one’s unemployment  insurance, the other’s food stamps, okay?”

“Why is that?” he said.  “Because those folks who receive those  resources must spend them. And they’ll spend them almost upon receipt.  Most economists with whom I talk believe that those with significant  discretionary income, that that’s not the case.”

 

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  • 4rcane

    I hope this wake some ppl up, the absurdity of DEMAND side economy, that thinks consumption grows an economy. When taken to the logical conclusion of their argument, people not working is great for the economy. If you catch one fish then eat it, you’re no richer than before

    Supply siders believes in savings, UNDER consumption, which leads to growing economy.

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