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Politics:

The Latest on Unemployment and the Bush Tax Rate Extensions

Ladies and gentlemen, I have a question. I have a whole unemployment stack here, but before I get to the unemployment news stack per se, I have a question. I'm still kind of reeling here over the theories and the philosophy that we got last week, and that is that unemployment benefits create robust economic activity. I'm still trying to get my arms around that, and not only that, unemployment benefits, if we fail to extend 'em, it's going to cost us 600,000 jobs. Now, my question, if unemployment benefits are so good for the economy, why hasn't it worked for the past 99 or 150 weeks? Look at all the people that have been on unemployment. We ought to have just a rolling recovery going on. But of course we don't. It's absurd some of the things that are being said out there. Now, here is the unemployment stack, ladies and gentlemen, and the first story is from Ben Bernanke. Bernanke was on 60 Minutes last night.

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