moody s looked at the effectiveness of different economic policies in terms of likely impact they would have on the economy as a whole. they found that for every dollar spent on extending unemployment benefits, we get $1.61 back in economic growth. so michigan republicans idea of dealing with high unemployment in the state by making life harder for the unemployed isn t just mean, it s bad for michigan s economy. instead of taking lemons, making lemonade, they are taking them and started to squeeze them into eyeballs an open cuts. confronted with a lot of people in the state already hurting, governor snyder and michigan republicans are making the whole state pay for the privilege of hurting those people just a little bit more. joining us now, dean baker, economist, codirector of the center for economic and policy research. thanks very much for joining us. has r vi mon what will be the likely economic impact in michigan of cutting way back on unemployment checks like this?
when they get a dollar, they do not file it away for a rainy day, it is raining already for them. if they get a dollar, they spend it on something they really need to spend it on, say food. really efficiently. money spent on unemployment gets pumped back into the economy because of the nature of what it means to be unemployed. moody s looked at the effectiveness of different economic policies in terms of likely impact they would have on the economy as a whole. they found that for every dollar spent on extending unemployment benefits, we get $1.61 back in economic growth. so michigan republicans idea of dealing with high unemployment in the state by making life harder for the unemployed isn t just mean, it s bad for michigan s economy. instead of taking lemons, making lemonade, they are taking them and started to squeeze them into eyeballs an open cuts. confronted with a lot of people in the state already hurting, governor snyder and michigan republicans are making the whole state pay
them. if they get a dollar, they spend it on something they really need to spend it on, say food. really efficiently. money spent on unemployment gets pumped back into the economy because of the nature of what it means to be unemployed. moody s looked at the effectiveness of different economic policies in terms of likely impact they would have on the economy as a whole. they found that for every dollar spent on extending unemployment benefits, we get $1.61 back in economic growth. so michigan republicans idea of dealing with high unemployment in the state by making life harder for the unemployed isn t just mean, it s bad for michigan s economy. instead of taking lemons, making lemonade, they are taking them and started to squeeze them into eyeballs an open cuts. confronted with a lot of people in the state already hurting, governor snyder and michigan republicans are making the whole state pay for the privilege of hurting those people just a little bit more. joining us now, dean baker