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‘Cruel’ and ‘bad economics’ are what this economist has to say about not extending the extra $600 in unemployment benefits

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Since the $2.2 trillion stimulus package known as the CARES Act passed in March, Americans who lost their jobs have been able to collect an additional $600 a week in unemployment benefits on top of what their states have distributed.

That extra money is set to expire at the end of next month if lawmakers fail to act.

The boost in unemployment benefits “was a really important thing to do when we were closing the economy back in March,” Labor Secretary Eugene Scalia said Wednesday on CNBC. “I don’t think that the $600 benefit is the answer going forward,” he added.

Josh Bivens, director of research at the Economic Policy Institute, a left-leaning…



Source marketwatch.com

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