Question

Do you think that the $600 per week EXTRA in UI benefits is overly generous? Why or why not? Should the $600 per week in EXTRA unemployment benefits be reinstated for the tens of millions of people who had a job in Jan. 2020 but do not have a job now? Why or why not?

Answer 1

600bdollars per week of unemployment insurance is too generous as this translates into 32,000 dollars approximately for a year whereas the GDP per capita in US stands at 53200 dollars. This amount should not ne reinstated to all unemployed who don't have a job now as the Government already has spent 400 billion dollars while the US Fed jas pumped in 2trillion dollars. This would lead to excess liquidity and significant rise in spending and consumption which could lead to hyperinflation.

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