Axed Jobless Benefits Trying to Make a Comeback
Matt | On 06, Jan 2014
Despite an economic recovery that is slowly gaining steam, there is a good portion of the work force who still don’t see the turnaround in their own lives.
Federal unemployment benefits expired on December 28. They were also not included in the two-year budget deal that was struck just before Christmas. Without those benefits, thousands of long-term unemployed people would lose the only source of income they have. A bottoming-out like that could have negative impacts on the economy as families begin to let go of the bare essentials such as shelter, transportation, and even food.
The U.S. Senate is working early this week to see if they can restore the benefits that will cost the nation $26 billion over three years.
President Obama and the White House have taken to social media and other outlets to push for Congress to renew the benefits. The president is holding an event at the White House on Tuesday with unemployed Americans to use his bully pulpit to push for legislation. He also discussed in a December weekly address (see video above) how unfair the benefit cuts were.
Even Democrats in Congress were getting in on the action:
I have always thought it to be such an unfair Catch-22 when it comes to the long-term unemployed. Some worked for years at their former jobs and were downsized due to cost-cutting in the global economy. That part is understandable. The kicker is that the longer you are unemployed, the harder it is to jump back in the market. Those are the people who tend to need the money the most. Employers many times want already-employed candidates to fill their slots.
I really hope these needed benefits see the light of day very soon. Real families and children need them!