Outlook for Extensions of Unemployment Benefits Beyond November (work, money, UI)
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Politico.com is reporting that Representative Jim McDermott (D-Wash), who championed the extension of federal unemployment benefits in the stimulus bill -- as well as the subsequent addition of Tiers III and IV -- is painting a bleak picture for further extensions in a post-election House.
McDermott and others are voicing concern over "the looming insolvency of the outmoded unemployment system, which reaches less than half of the jobless and yet is shuddering under $40 billion in debt."
They gave 20 Billion in Bonuses to Wallstreet in 2009 and then the famous 700 Billion Bailout ..... , now its time to help America's suffering unemployed workers .
The bailout money just lined the pockets of the wealthy, instead of helping to stabilize the economy.
A massive redistribution of wealth to the bank shareholders and their top executives...
If the gov'ment. can help them then they can help US !
Politico.com is reporting that Representative Jim McDermott (D-Wash), who championed the extension of federal unemployment benefits in the stimulus bill -- as well as the subsequent addition of Tiers III and IV -- is painting a bleak picture for further extensions in a post-election House.
McDermott and others are voicing concern over "the looming insolvency of the outmoded unemployment system, which reaches less than half of the jobless and yet is shuddering under $40 billion in debt."
Look at what's happened to COBRA and the federal subsidy despite the dire financial consequences for those of us that have lost this health coverage ( and to the economy, generally ). Will u.i. benefits follow the same fate ?
They gave 20 Billion in Bonuses to Wallstreet in 2009 and then the famous 700 Billion Bailout ..... , now its time to help America's suffering unemployed workers .
The bailout money just lined the pockets of the wealthy, instead of helping to stabilize the economy.
A massive redistribution of wealth to the bank shareholders and their top executives...
If the gov'ment. can help them then they can help US !
I rep'd yah, that 20 billion in bonuses would have gone a looooog way in extending UI for those of us who are out.
For most of us "used to be working stiffs" a "bonus" in the past meant an extra $100 or 2 at xmas in the paycheck, not the 100k and up on their already over inflated salaries.
Considering they couldn't even give us the '09 $2,400 tax break for UE recipients in '10, I don't see any further extensions in the future.
While possible, to never again extend unemployment seems unfathomable to me. The huge drain on city and state safety nets will become unmanageable. States are broke, as it is. Not to mention the numbers of people actually living on the streets. Guess we'll find out soon enough.
if the possibility of 7 million people being effected by this does't mean a no brainer to congress....then there is going to be severe economic consequences from this, far more than the 40 billion they are already in the hole with. The democrats just need to come to the table prepared to pay with offsets. All this article did was give the GOP a starting point.
I use to think just like you trist. about this stuff getting passed without a problem but as we have gone on and they keep taking stuff away the only thing left to take away is the actual extensions themselves. I think more on the side of they are not going to pass this stuff then they are anymore. I think everyone can forget about a tier 5. They might get one more short extension of the tiers through but after that who knows.
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