Nobel Prize winning economist, Paul Krugman, criticizes lawmakers for 'inflicting pain' to jobless

Paul Krugman, winner of the Nobel Memorial Prize in Economic Sciences in 2008, helped make the case for a second stimulus stronger over the holiday weekend by mentioning in the New York Times Op-Ed that lawmakers should increase availability of insurance benefits in this weak, but gradually growing economy.  In his New York Time's article "The Pain Caucus", dated May 30, 2010, Krugman asserts that it is a 'destructive idea' to 'stop helping the jobless and start inflicting pain.' 

Paul Krugman's statement echoes the message that Lawrence Summers made last week before the Congressional recess when he made the case for a second stimulus which would include additional jobless benefits, tax cuts, and the proposal would continue to provide funding to assist the states who are facing many cuts next year due to budget issues and the toll the Great Recession has taken.  The bill, H.R. 4213, which extends the filing dates for the current approved tiers of benefits passed the United States House of Representatives by a vote of 245-171 in the United States House of Representatives and the measure was not taken up in the United States Senate before the Memorial Day break.  This is the second consecutive month that the Congress failed to take up the measure before the deadline expired.  If you want to see how your representative voted in the US House, see the official roll call at http://clerk.house.gov/evs/2010/roll325.xml.


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