Did you think there were no benefits for workers who were laid off?
(CNN)In a historic expansion of unemployment insurance, the federal government would give jobless workers an extra $600 a week on top of their state benefits for four months as part of the $2 trillion stimulus billthe Senate passed unanimously late Wednesday night.
“It has unemployment insurance on steroids,” Senate Minority Leader Chuck Schumer said Tuesday of the package. “But, and most importantly, the federal government will pay your salary, your full salary for now four months.”
So…are you wondering why these workers didn’t prepare to be laid off in case there was a pandemic?
When the financial sector blew up the global econonmy in 2008, government was necessary mechanism to create a response and are facing a similar situation today.
The notion that government has no role does not gibe with the facts. Markets have great creative energy but they clearly are ineffective in dealing with a set of shared issues in society. Michael Sandel’s “The Moral Limits of Markets” might help you think this through.
This has nothing to do with socialism, unless you live by the knee jerk response that all government action outside of safety and law enforcement is socialism.