Spectacular failure of NC's austerity experiment attracts more national attention

And it ain't pretty.

If there were anything to the theory that cutting unemployment benefits encourages job search and somehow translates into higher employment even in a slump, harsh policies should work better at the state than at the national level. But there is no sign at all that North Carolina’s harshness has done anything except make the lives of the unemployed even more miserable.

I'm sure Mike Walden, Art Pope's pocket economist, will look at the data and feed McCrory's comeback fantasies with a bunch of happy talk. Real people know better.

Comments

As one of my friends said...

..."Although it sucks for our state, at least others can benefit by using the results of the "experiment" to discourage this elsewhere. And this is a lovely reference for when someone tries to make the case that state policies have lowered the unemployment rate."

It is all over the news

The unemployment rate has gone down in large part because of so many people that have stopped looking for work and are out of the system. News 14 Carolina has had that presented all day today. What we need is jobs. THAT is how unemployment reduction should work, not some "funny math" number.