GOP blocks extension of unemployment for short term political gain

[BirminghamExaminer]

Read entire article here (and see accompanying video):

Though economists debate how long the current recession will last, almost all agree that unemployment benefits are good for an economy during a recession because the people receiving the benefits spend the money on food and other necessities. The money spent on unemployment benefits goes right back into the economy while people who are employed aren't spending.

The Washington Post reports, "Since the recession began in December 2007, lawmakers have passed several extensions that stretched the normal 26-week limit for unemployment benefits to as long as 99 weeks in the hardest-hit states."

Democrats in the House tried to pass a bill to extend unemployment benefits in June but Republicans blocked the bill.

James Sherk of the Heritage Foundation claimed on "Hardball" with Chris Matthews that unemployment benefits encourages the unemployed to ignore jobs they are overqualified for.

(snip)

Yale University professor of economics, Lisa Kahn, researched how entering the job market during a recession influences the future outcome of college graduates. Kahn tracked the financial outcomes of college graduates who graduated before, during, and after the recession of the early 1980s, the last time the unemployment rate reached 10% in the U.S. What she found was that college graduates who entered the job market during a recession earned 6 to 8% less in their first year of employment. 15 years after graduating college, recession graduates still earned 2.5% less than their counterparts who graduated before and after the recession.

[Demeter]

1. I think The Game Will Backfire

on both the GOP and the DLC. I think we will see some real progressives winning in amazing sweeps of the electorate.

[Crabitha]

2. I hope you're right but I don't have the confidence you do

I'm not sure I'll ever have that kind of confidence again. When GWBush was elected the first time, I attributed it to a stolen election and or a "fluke." But when he was elected a second time, I lost all faith in the American electorate.

First of all, I think that a large majority of people don't pay attention to what is going on. Secondly, I believe that most people vote by emotion, not reason. The economy is bad, ergo, vote for the other party. I hope I'm wrong and that you are right.