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| Economy |
| New $100 billion safety net for jobless in works |
| 2009-12-01 |
| As unemployment spikes, the cost of compassion is going up too. By as much as $100 billion. That's the potential price of a push by Democrats in Congress to continue providing extra help to the jobless beyond the core 26-week unemployment insurance package provided under permanent law. The jaw-dropping numbers combine the approximately $85 billion cost of continuing emergency benefits through 2010 for the long-term unemployed — jobless more than six months — plus an estimated $15 billion to continue subsidies to help pay health insurance premiums. Even before the last new round of extended benefits in November, the cost of unemployment compensation was estimated by the White House to exceed $140 billion for fiscal 2010, which began in October. Just two years ago — when the unemployment rate was 4.8 percent in contrast to the current 10.2 percent — the cost of unemployment benefits was only $43 billion. Several temporary benefit extensions dating from mid-2008 are set to expire Dec. 31. In January alone, an estimated 1 million people will lose benefits as their extended coverage runs out. By March, 3 million people will have lost benefits averaging about $315 a week. |
| Posted by:ed |
| #2 Votes are getting to be expensive. Good think the DNC doesn't have to pay for it -- its all on your and your children's dime. |
| Posted by: CrazyFool 2009-12-01 23:18 |
| #1 Sort of answers how effective the Pork and Patronage Act of 2009 was in stimulating the economy [outside of payoffs for the usual suspects]. |
| Posted by: Procopius2k 2009-12-01 22:47 |