1 Million Americans Face Loss Of Jobless Benefits In January, 3 Million by March

[marmar]

from 24/7WallStreet:


One Million Americans Face Loss Of Jobless Benefits In January
Posted: November 19, 2009 at 5:22 am


The National Employment Law Project says that the public’s perception of what will happen to insurance benefits for the unemployed early next year is flawed. Most press reports on Congressional action on the matter say that one million people have had their benefits extended well into 2010. That apparently is not so.

The NELP released a new analysis which finds that one million workers will become ineligible for unemployment benefits in January 2010 unless Congress reauthorizes the American Recovery and Reinvestment Act’s unemployment insurance programs by the end of December.

The organization writes “The critical benefits provided to jobless workers by the ARRA are set to expire at the end of the year, which means that even with the latest 14 to 20 week extension enacted in November, 30,000 workers a day will be left without any jobless benefits in January. By March, the number without federal jobless benefits will swell to nearly three million workers.”

It has been widely assumed that the benefits for many of the unemployed had already been extended by as much as several months. The New York Times points out the problem with that reasoning: “The added federal benefits were built on a series of previous extensions that are slated to end on Dec. 31, unless Congress renews these programs.” ..........(more)

The complete piece is at: http://247wallst.com/2009/11/19/one-million-american-face-lose-of-jobless-benefits-in-january/

[Subdivisions]

1. Once those unemployment checks stop coming, there will be another

wave of foreclosures and the soup lines of the Great Depression will return here in the midst of the Second Great Depression.

[Octafish]

2. Thank Moon that Wall Street's OK.

The bonuses alone will help keep America's east coast BMW dealers in business.

[redqueen]

3. The leftover TARP funds should be used for this. (nt)

[chill_wind]

4. If true.....Not.Good.

[dgibby]

5. Congress better get busy if they want to keep saying the economy is recovering.

Left unchecked, this will bury us.

[anonymous171]

6. Fuck that shit. We need to pay off the national debt!

:sarcasm:

[chill_wind]

7. kick