Can we solve poverty just by handing out money? What about unemployment?
President Biden and many of the Democrats in Washington, D.C., think so. Their decision to extend the $300 weekly unemployment insurance (UI) bonus is continuing to drive unemployment and make it more difficult for employers to find workers.
That strategy of just handing out cash is failing.
But don’t take my word for it. On May 7, the Bureau of Labor Statistics (BLS) reported an increased unemployment rate of 6.1 percent. And the number of new jobs created, which was predicted to be around one million, came up far short of expectations at fewer than 300,000.