Laws of Economics 1; Obama 0

Robert Barro, Professor of Economics at Harvard University, writes:

My calculations suggest the jobless rate could be as low as 6.8%, instead of 9.5%, if jobless benefits hadn't been extended to 99 weeks.

To conservatives, it is obvious that giving people cash incentives to remain unemployed will increase the number of unemployed. Liberals, on the other hand, probably wouldn't understand it even if a Harvard professor explained it to them.

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