With the U.S. jobless rate still at levels not seen since the Great Depression and coronavirus-induced mass layoffs continuing across the nation, millionaire White House economic adviser Larry Kudlow complained Sunday that the $600-per-week increase in unemployment insurance authorized by the CARES Act is too generous and said the benefits should expire at the end of July.
“I mean, we’re paying people not to work. It’s better than their salaries would get,” Kudlow said in an appearance on CNN, echoing the common Republican complaint that many U.S. workers are earning slightly more on the boosted unemployment insurance than they would at their low-wage jobs. Progressive lawmakers and economists have argued that the solution is to raise wages, not slash benefits.
Kudlow predicted that Congress will not extend the enhanced unemployment benefits past the July 31 expiration date and said the Trump administration is “looking at a reform measure that will still provide some kind of bonus for returning to work, but it will not be as large.” Continue reading.