Stephen Moore to Newsmax TV: More Than Half Making More Money on Unemployment

Stephen Moore to Newsmax TV: More Than Half Making More Money on Unemployment (Newsmax TV/"American Agenda")

By Nick Koutsobinas | Friday, 07 May 2021 05:20 PM

Heritage Foundation chief economist Stephen Moore implored the Biden administration to halt supplemental federal unemployment compensation, telling Newsmax TV on Friday that more than half of those receiving benefits earn more not working than they would at a full-time job.

Appearing on "American Agenda," Moore, who advised the presidential campaigns of Herman Cain in 2012 and Donald Trump in 2016, said, "about half of the unemployed people today are making more money staying on unemployment than going back into jobs."

South Carolina and Montana have become the first two states to eschew the federal government's $300 per week benefit, adopted as part of the various COVID-19 relief/stimulus packages, which is added to the respective states' unemployment compensation.

"What Montana's doing, giving little supplemental benefit to workers who actually take a job, you know, let's reward people for working, not reward people for not working," Moore said.

"Our studies show that well over half of unemployed people are making more money collecting unemployment because they're not including all the other benefits that you've got," said Moore, founder of the Club for Growth. "You know, the food stamps, rental assistance, and so look, if I were advising [President] Joe Biden, what I would tell him right now is stop immediately."

Moore added that there are 7.4 million unfilled jobs today.

"I mean, that's bigger than the entire labor force of Michigan and Indiana combined," he said.

In spite of the economy growing 10 percent this year and all the government spending, Moore concluded that the Biden administration needs to stop spending so much money.

"Government spending is actually inhibiting the recovery process," he said. "We need [to] just get the government out of the way. Get the normal process going. Look, I believe in a safety net.

"If people lose their job, we want to make sure they don't fall on hard times, and we want to encourage them to get back in the employment market."

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