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Hoyer: Food Stamps, Unemployment Insurance 2 ‘Most Stimulative’ Things for Economy

Posted By admin On July 18, 2012 @ 1:53 am In U.S. News | Comments Disabled

Elizabeth Harrington
CNS News [1]
July 18, 2012

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.”

Unless action is taken by Congress, the Bush tax cuts will expire on Jan. 1, 2013.  Originally enacted in 2001 and 2003, President Barack Obama and Congress renewed the cuts for all income-brackets for two years in 2010.

Full article here [1]

 


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URLs in this post:

[1] CNS News: http://cnsnews.com/news/article/hoyer-food-stamps-unemployment-insurance-2-most-stimulative-things-economy

[2] More Americans Will Use Food Stamps For Thanksgiving This Year Than Ever Before: http://www.prisonplanet.com/more-americans-will-use-food-stamps-for-thanksgiving-this-year-than-ever-before.html

[3] WSJ: Food Stamps Swell as Economy Improves: http://www.prisonplanet.com/wsj-food-stamps-swell-as-economy-improves.html

[4] 35 Million Americans on Food Stamps: 12 Percent of U.S. Population on Food Stamps Highest Since Records Kept in 1969: http://www.prisonplanet.com/35-million-americans-on-food-stamps-12-percent-of-u-s-population-on-food-stamps-highest-since-records-kept-in-1969.html

[5] Are Food Stamps the Soup Lines of this Great Recession?: http://www.prisonplanet.com/are-food-stamps-the-soup-lines-of-this-great-recession.html

[6] Hoyer: No comparison between Obama, Bush secret surveillance: http://www.prisonplanet.com/hoyer-no-comparison-between-obama-bush-secret-surveillance.html

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