[PEN-L:5261] "welfare reform" and Fed reform

[naiman@xxxxxxx (Robert Naiman)]

        Have there been any efforts to tie "welfare reform" to reform of
the Fed?
        That is, so long as the Fed acts on the belief that the NAIRU is
6%, any attempt to "reform welfare" by "moving people from welfare to
work", even if coupled with job training, free health care and free day
care (dream on) can at best have the effect of taking away jobs from the
currently employed. So if you want to "reform welfare" along these lines,
you have to make sure the Fed is going to allow new employment. (Even if
you don't count those now on welfare as currently unemployed, if everyone
now on welfare gets a job that will either decrease the rate of
unemployment or displace folks currently employed.) Right?
        So the CBC should put forward an amendment to every "welfare
reform" bill requiring that no-one can be removed from the welfare rolls
until the Fed allows them to have a job...

socialism or barbarism
naiman

http://www.wri.com:80/~naiman/