The Consequences of Bad Policies

The Commentary Magazine Podcast

Commentary Magazine

News, News Commentary, Politics

4.6 • 5.1K Ratings

🗓️ 7 May 2021

⏱️ 45 minutes

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Summary

On today’s podcast: Unfortunate job numbers—job creation expected to be around 1 million coming in at 266,000 instead—may be the perfect expression of how intrusive government policy in the form of direct unemployment benefits from the federal government are actually encouraging people to stay home rather than go out to work. More bad policy is in the potential offing through the infrastructure... Source Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the commentary magazine daily podcast today is Friday May 7th 2021.
0:29.5	I'm John Pajor. It's the editor of commentary with me as always executive editor Abe Greenwald.
0:34.2	Hi Abe.
0:35.2	Hi John.
0:36.2	A senior writer Christine Rosen.
0:37.7	Hi Christine.
0:38.7	Hi John.
0:39.7	And associate editor and all Rothman.
0:42.2	Hi Noah.
0:43.2	Hi John.
0:44.2	Okay, politically interesting macro economic news with many ramifications.
0:51.4	The jobs report for April is out and it's terrible.
0:56.7	So normally it's not so terrible. It's I think 200 up 266,000 jobs which sounds good.
1:03.4	However, people were expecting as many as a million new jobs and it's not just that that
1:09.4	is problematic.
1:11.6	But also that the March numbers were revised downward a couple hundred thousand jobs,
1:19.4	meaning that the jobs recovery along with the economic recovery does not seem to be happening.
1:26.6	And I think there are two questions that we need to address.
1:31.4	One is ordinarily a White House wants to trump it news that its behavior is having positive
1:41.7	economic ramifications in terms of a jobs report, right?
1:46.2	And would basically not be happy with the news that the jobs numbers are going down.
1:51.5	However, the Biden administration is attempting to get this $4 trillion spending behemoth through
	...

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