Young America's Foundation's Ron Meyer joined Fox and Friends to debate Scott Gerber of #FixYoungAmerica on the merits of the new federal Self-Employment Assistance (SEA) program. SEA expands unemployment insurance benefits to cover those seeking to create a business. Meyer points out that turning unemployed people into job creators sounds too good to be true because it is. Unless you're starting a company out of your parents' basement, unemployment insurance doesn't pay enough money for the capital required to start a business. The Small Business Administration (SBA) puts a low-ball figure of starting a business at $30,000--and that's just the money required to leverage the additional capital you'd need.
The fact is, the government needs to fix itself before trying to fix the country with gimmicky solutions. Regulations are inhibiting the people trying to start businesses with real capital. It costs more than $10,000 in regulation alone just to hire one additional employee. ObamaCare by itself raises the cost of health care by 50% on young people.
If the government cut these costs, more people on unemployment insurance could find work--and eventually be able to start a business.
Watch the debate here: