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Forum Post: Just Another Billion a Week

Posted 3 months ago on Jan. 8, 2014, 2:28 a.m. EST by shooz (26733)
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"The US economy is losing up to a billion dollars a week because of the “fiscally irresponsible” decision to end long-term unemployment benefits, a Harvard economist said on Friday.

Professor Lawrence Katz based his assessment on official forecasts of the impact to the economy of 1.3 million jobless Americans losing benefits

The benefits, which apply to people who are unemployed for longer than six months, expired last week after a bipartisan budget deal on federal spending for the next two years failed to include a reauthorization of the program.

Democrats have launched a sustained push to reintroduce the federal program, and a Senate vote on a bipartisan bill to restore the benefits for three months is expected early next week.

On Friday, Democrats in the House of Representatives released a state-by-state breakdown of Labor Department figures, showing the number of people who lost federal benefits when they expired on Saturday. The 1.3 million affected Americans are losing on average $305 per week. In total, Democrats said $400m had been “taken out of the pockets” of job seekers across the country."

13 Comments

13 Comments


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[-] 4 points by ZenDog (20562) from South Burlington, VT 3 months ago

You will never convince conservatives that this is a problem. It is a curious, malignant kind of myopia that is difficult to fathom - but they will hew to their faith, or is it prejudice? - despite the eventual and quite predictable constriction on their own financial interests.

There must be a way to employ this interesting facet of conservative psychology toward a socially responsible end.

There must be . . .

[-] 2 points by shooz (26733) 3 months ago

FLAKESnews.

It makes flakes, flakier.

That's the only explanation I have, as there is NO doubt about how badly they've destroyed the dialog..

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 3 months ago
[-] 2 points by shooz (26733) 3 months ago

I saw that. It makes you wonder how far away Koch money/influence is.

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 3 months ago

It really shows how far MSM journalism has fallen, 60 min used to be fairly good - now they are questionable - AT BEST.

And another example of a news story with a very obvious bias:

Obamacare horror story

[-] 2 points by shooz (26733) 3 months ago

Makes me glad I never watch that shit.

Even those that like me, are all for universal coverage, understand that it's still a clear step forward.

http://www.michaelmoore.com/words/mike-friends-blog/christmas-2013-its-cheaper-for-my-health-coverage-by-half-thanks-to-obamacare

[-] 2 points by DKAtoday (33128) from Coon Rapids, MN 3 months ago

Universal - FULL COVERAGE - would even up expenses - If only for the fact that everyone would be more focused on billing and care.

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[+] -4 points by OpinionsArentLies (0) 3 months ago

Focus on the Billion a week and ignore the 75 Billion per month.

You big Wall St whore, you love it dontcha?

[-] 3 points by GirlFriday (21783) 3 months ago

The above message was brought to you by a political pr whore. With ties to the libertopians. because he's a dirtbag

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[-] 2 points by shooz (26733) 3 months ago

This is money being taken directly from the unemployed.

[-] 2 points by MattLHolck (16833) from San Diego, CA 3 months ago

student loan extra charges for failure to pay

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[-] -1 points by globalchill (-24) 3 months ago

Ya know the whole unemployment brouhaha is to fire up the Demobots.

If the extension REALLY mattered to the Dems, it would have been in the budget agreement. Course, the Reps are still going to counter over the cuts in Military pensions to fire up their base

[-] 2 points by MattLHolck (16833) from San Diego, CA 3 months ago

promised pensions are depended on