Senate Finance Committee Chairman Max Baucus (D-MT) yesterday “introduced legislation today to continue for one year eligibility for federal unemployment insurance benefits for jobless workers,” according to a press release from his office.
Without this reauthorization, almost 800,000 out-of-work Americans will lose these critical benefits by the end of next week and two million Americans will by the end of the year.
According to The Hill, this bill “is estimated to cost about $56.4 billion” and it “isn’t paid for.” Why such a long extension?
Economists and the Federal Reserve have said they expect the unemployment rate to remain high through next year, the main reason behind the push for an extension through the end of 2011.
The White House also is pushing for an extension that runs through the end of next year.
The “federal program that provides jobless benefits for those whose 26 weeks of state benefits have ended, up to 99 weeks in states with the highest levels of unemployment, will expire Tuesday.”
The legislation is referred to as the Unemployment Insurance Stabilization Act (S. 3981).
Update: Senator Scott Brown (R-MA) objected to a request made by Senator Jack Reed (D-RI) to pass this bill by unanimous consent. It’s the same old argument among both parties. Republicans want the bill paid for, Democrats argue it constitutes emergency spending and doesn’t need an offset.
Update Two: Senator Scott Brown offered a request to unanimously pass a bill extending these benefits for the same amount of time with an offset. Senator Reed objected. The offset would pay for the benefits by using unspent, dormant federal funds (non-security).
Congress in Your Pocket
Cutting unemployment benefits for the huddled masses in the middle of Winter is simply coldhearted, though I have some agreement with both sides of the aisle. Call me crazy, but all the money we are dumping into health care is the first thing we need to look at getting rid of. I’m guessing that if millions lose their homes and become destitute, yeah we’ll need even more health care… for all the freezing homeless children and heart attacks caused by cutting their last lifeline, called an unemployment check. Why are we trying so hard to create a welfare state out of millions who have been in the workforce? I don’t want the Government to be a market force permanent employer, though if they offered the unemployed public works programs to “earn their keep” certainly they would find no argument from these victims of circumstance. This also would help fund unemployment for the 72 week period. The jobs wouldn’t be permanent, only 72 weeks (as prior Federal Unemployment benefits were timed). Now If I can easily figure out the solution, don’t you think the “geniuses” in Washington should be able to? They just continue to throw wood onto the toppling bonfire. If something isn’t done quickly we’ll all be badly burned. PS- We better hire more police to handle what’s coming down the road.
I’ve been a 99er since March of this year and stole my first meal today. Sad to admit, it won’t be my last. I’m planning on doing the same thing tomorrow. Never thought it would come to this.
It is devastating what the Republicans are doing to so many Americans. I have been jobless for almost two years, I get up every morning and look for work and I am a full-time college student. I am not lazy as the Republicans claim. They have no idea what it is like to live like this. We don’t want to be unemployed. I personally would love to work, the job market is highly competitive. What will the Nation do for the holiday seasons. My heart really goes out to those who have children and are facing homelessness. It is disgusting that they want the Bush tax cut to continue, but there is just no money for the Unemployed. Greed will destroy for those who seek it.
god I so agree. I cant believe I live in a world where this is really about to happen. what do they expect these people to do? where will they go when they are evicted for not paying the rent? its cold outside-30 degrees here last night. right now I still have my lil place and am in danger in the next few weeks of not, but I really feel for those who wont have rent on the first and be forced to the streets or already bulging shelters. Ive lived like that before.
its a devastating life.
God please send us a miracle…
I’ve been off work since Mach of 2009. I’m turning 55 soon and they sure are not looking at my applications for jobs. I’m lucky,,my apartment complex has me cleaning vacant unis in exchange for rent..but what am i to do for food and utilities if this extension is not approved! I am told since i don’t have kids,,,i can’t get cash assistance (welfare). I hate to think of the famlies that are facing loosing their homes,,,let alone buy their kids a present for christmas. I’ve given up planning on buying presents for my 4 grandkids. If the politicians can’t approve a long extention for right now..give us a few months to get throuh the holidays and cold weather..and maybe in the mean time you can argue the rest of the issues. I am replublican and i get their issues,,but really folks,,,get us through the winter and the next few months..and do it now please..catching up on late rent and utilites isn’t easy either. apperenty you’ve never been in such a spot. I’ve been a hard worker since i was 15,,sometimes two jobs and rasing kids..I can’t belive this is happening either. Come on guys…do something! QUICK !
Merry Christmas everybody thank the GOP for being the Grinch this year. Its sad to think that we got crapped on my the GOP for the holiday season . Maybe i should break into there house eat there food and take there gifts like they just did to me and my family
I agree with most…its plain evil to punish the people, with politics.
But, I am not so quick to blame the republicans…they have repeatedly offered to sign bills extending benefits IF the cost were taken from unused stimulas funds…but the dems absolutely refuse to do that. Why, I wonder?
So, is it the republicans that are letting the citizens of the country suffer, or the democrats??? Who have the power to end it tomorrow by using funds that were designed for economic recovery. I can;t think of a faster way to inject funds into the system. The unemployed spend it immediately buying basic goods and services, its not placed out of circulation in a svaings account.
I wonder why the dems won;t agree to this? What do they have in mind for all that leftover money they are in charge of? Their own little “pork” projects?
They are all guilty of betraying the public trust. Making tough decisions becomes much easier when its done from Washington DC and a little taste of political power is sooo good.