These people are responsible for America’s economic policy? No wonder we’re in such trouble! Here’s what Stanford graduate (sounds like 1% territory) and Director of the Office of Intergovernmental Relations and Public Liaison under President Obama said:
And so we need to make sure that we continue to support that important safety net. It not only is good for the family, but it’s good for the economy. People who receive that unemployment check go out and spend it and help stimulate the economy, so that’s healthy as well.
If robbing Peter (the taxpayer) to pay Paul (the unemployment recipient) means the economy is “stimulated” then she’s right. People getting unemployment are not contributing anything they are only taking. And that’s okay for a short period of time because bad luck can befall anybody.
But three years of bad luck?
To know somebody’s future vision you only need look at their past. In Ms. Jarrett’s case she was the CEO of Habitat Company which managed the Grove Parc Plaza located in former Senator Barack Obama’s district.
According to an outside study (nobody in Illinois would touch the subject), the 504 government subsidized units were in deplorable condition (with 99 remaining unoccupied due to hazards). According to the report on Boston.com:
Mice scamper through the halls. Battered mailboxes hang open. Sewage backs up into kitchen sinks. In 2006, federal inspectors graded the condition of the complex an 11 on a 100-point scale – a score so bad the buildings now face demolition.
Grove Parc has become a symbol for some in Chicago of the broader failures of giving public subsidies to private companies to build and manage affordable housing – an approach strongly backed by Obama as the best replacement for public housing.
As a state senator, the presumptive Democratic presidential nominee coauthored an Illinois law creating a new pool of tax credits for developers. As a US senator, he pressed for increased federal subsidies. And as a presidential candidate, he has campaigned on a promise to create an Affordable Housing Trust Fund that could give developers an estimated $500 million a year.
Regarding Jarret (and that name from the past rarely repeated by the press Tony Rezko):
Campaign finance records show that six prominent developers – including Jarrett, Davis, and Rezko – collectively contributed more than $175,000 to Obama’s campaigns over the last decade and raised hundreds of thousands more from other donors.
So a former CEO of a company that acted as a slumlord, who raised a massive amount of money for the man she now works for, President Obama, is telling us that unemployment checks stimulate the economy?
And who is running the country?