Millions to lose Unemployment benefits over the next month!!!!!!!

Discussion in 'Economics' started by S2007S, Nov 19, 2010.

  1. S2007S


    Millions will start to lose unemployment benefits over the next 1-2 months. The vote fell very short as nearly 2/3 voted against it. In the next week unemployment aid is going to expire and without any vote coming for weeks hundreds of thousands of people will start to start losing benefits on a weekly basis and over 2 million by January 2011. Who knows how long before they extend them but they are going to rush something through even if they have to extend them for another month going into the holidays.

    A bill to extend jobless benefits for three months was defeated in the U.S. House, threatening to cut off aid to thousands of the nation’s long-term unemployed.

    Republicans, in a replay of a dispute earlier this year, blocked the legislation because its $12 billion cost would be added to the government’s deficit. They demanded offsetting savings elsewhere in the budget.

    The 258-154 vote fell short of the two-thirds needed under an expedited approval process. Voting against the bill were 11 Democrats and 143 Republicans.

    Aid is set to expire Nov. 30 for some unemployed, and with Congress out of session next week for the Thanksgiving holiday, lawmakers will have little time to find agreement before then.

    “This bill is like déjà vu all over again, and not in a good way,” said Representative Charles Boustany, a Louisiana Republican. “We all want to help those in need but the American people also know someone has to pay when government spends money, and it shouldn’t be our children and grandchildren.”

    Representative Chris Van Hollen, a Maryland Democrat, said “ending unemployment assistance will not only be devastating for these individuals and their families but it will also hurt the economy as a whole by undermining consumer confidence and demand.”

    About 8,400 Americans will see their unemployment checks cut off by the end of the first week of December, according to Labor Department estimates. By the end of the third week of December, 1.36 million Americans will be affected if Congress doesn’t act, the agency said.

    The unemployment rate last month was 9.6 percent. Jobless benefits were cut off earlier this year for some unemployed people after a similar dispute in the Senate led by Kentucky Republican Jim Bunning.

    The bill is H.R. 6419.
  2. No worries. 8% unemployment by 2012.

    We are in a recovery according to this Fed, Lol.

    Unemployment should not be extended. Sorry folks, I feel for you but 99 weeks? Who is paying for this?
  3. pspr


  4. Kind of brings to light the whole insurance sham.

    Works great while inside the actuarial tables... once the flood gates of claims open the ponzi sham is revealed...
  5. America's Taliban vote against anything that will support the economy. And what happens when the Taliban get the presidency again, yup, another war, more wasteful spending and more tax cuts for the rich.

    The unemployed get nothing because they have no lobby.
  6. While I absolutely loathe the scumbags that brought this economic crisis upon us, along with the corrupt politicians that facilitated the entire deal, receiving unemployment benefits cannot become a full time profession. At some point one has to take that shitty 10 dollar an hour job and start over.

    According to that site, there are 14.8 million people currently unemployed (U-3 number) and 26 million people unemployed if you use the U-6 number. How can all of these people find jobs? There are not enough jobs to go around for everyone. In addition, we have 13.6% of the U.S. population on food stamps.
  8. They won't all find jobs, but I'd bet that number could be cut in half just by telling people the unemployment check won't be coming next week, go to work.
    Listen, I'd like to see the bastards that created this mess swinging from a tree, and I mean that in it's most literal sense, but that ain't gonna happen. At some point we have to swallow the injustice of it all and start over, individually and as a nation, and then hope that someday the pricks that brought this upon us will all die slow and painful deaths.
  9. olias


    I fall in between the two camps. I think the unemployment benefits are too high, and I wish there was a way we could get something productive out of that money, rather than paying people to do nothing.
  10. vk60546


    Statistics show that the unemployed find work mostly right before their benefits are set to expire?

    And what do you mean by the 'unemployed' have no lobby?

    WHOM to the Democrats represent?
    #10     Nov 19, 2010