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| Economy |
| Cash-strapped US running out of unemployment money |
| 2009-12-28 |
| [Iran Press TV Latest] Twenty-five US states are running out of federal funds to pay unemployment benefits to jobless Americans. According to The Washington Post, currently 25 states have been forced to borrow USD 25 billion from the federal government to keep their unemployed a float. The Department of Labor estimates that by 2011 some 40 states will have run out of employment money and will be in need of borrowing USD 90 billion from the federal government. State authorities currently have two options: Raising taxes or shrinking aid payments. However, government consultant Leonard Simon says the federal government must create jobs at the state level. "It is surprising to see how wide spread it is" he said. Meei Child is an unemployed citizen, since nine months ago, has been living off of unemployment benefits from the government which ends in March. "There is a lot of frustration and anxiety with that," Child told Press TV. She is one of more than 15 million jobless Americans, who depend on their unemployment checks that average about USD 300 per week. The White House recently taken measures that it hopes would create employment opportunities and Infrastructure revitalization, while providing USD 41 billion for unemployment benefits. Addressing the measure US President Barack Obama said that "behind these statistics are people's lives, their capacity to do right by their families. It speaks to an urgent need to accelerate job growth in a short term while laying a new foundation for lasting economic growth." |
| Posted by:Fred |
| #15 My beer drinking funemployed father of 4 in-law is no Cinderella Man. |
| Posted by: swksvolFF 2009-12-28 17:49 |
| #14 Ah yes. The gifts just keep piling up, don't they? |
| Posted by: lotp 2009-12-28 17:16 |
| #13 Don't forget that other gift from the Great Depression, the Davis-Bacon Act. |
| Posted by: whitecollar redneck 2009-12-28 16:38 |
| #12 Hey, it's Christmas season, the time to dream of miracles. And also the time to return unwanted 'gifts'. Congress, Obamacare, the stimulus ... where's that return desk anyway? |
| Posted by: lotp 2009-12-28 14:45 |
| #11 lotp, do you really think that Zero could figure out that his support of SEIU is too costly? I can't imagine this ever occurring if he is PotUS for 10 more terms (which is his wish). He won't ditch them anymore than he would ditch ACORN (yes, I know they're basically the same) or socialism. |
| Posted by: AlanC 2009-12-28 14:42 |
| #10 During the great depression many of those on the dole were asked to contribute things of value via the public works program. Not ideal and certainly not taxpaying jobs ... but that welfare expenditure translated into national parks and infrastructure that persist today - not to mention the dignity and value of working for what one receives. Given that handouts WILL be given I'd rather they be exchanged for work of value to the community. SEIU's indeed a problem and will be until Obama figures out their support is too costly for him, at which point he'll ditch them in deniable ways. |
| Posted by: lotp 2009-12-28 13:21 |
| #9 We need to provide important jobs and make them pay a living wage - stuff like reading poetry in coffee shops or interviewing prostitutes for psychological research, or... Or we could let them pick and sort garbage at the dumps for whatever useful articles they may glean. Different places have diffrent ways of dealing with unemployment. |
| Posted by: Glenmore 2009-12-28 13:15 |
| #8 The problem with that is the massive expenditures will force local governments into bankruptcy even sooner. Then no budget even for maintaining what the money was blown on. The problem will only be solved when taxpaying jobs are reintroduced into the community. For the majority of the people that means manufacturing and all the jobs are grow to support it. And that will require restructuring governmental trade policy. |
| Posted by: ed 2009-12-28 13:09 |
| #7 The problem with that, lotp, is that everyone of those activities will be controlled by SEIU. Now, what was that minimum wage again? $20, $30 / hr??? |
| Posted by: AlanC 2009-12-28 13:05 |
| #6 Repairing roads and bridges, staffing libraries and community centers, maintaining public parks, teaching literacy ... there's a lot that has been neglected in this country for a decade or more that could use some attention. |
| Posted by: lotp 2009-12-28 12:54 |
| #5 Minimum wage doing what, Moose? The reason the houses were abandoned is because the jobs were shipped overseas in the first place. |
| Posted by: ed 2009-12-28 12:10 |
| #4 I don't think the economy will grow again until businesses are confident the Iranian situation is over and we won't have an oil spike that will leave them all overextended. Nobody trusts Obama in a crisis so they play the waiting game. |
| Posted by: rjschwarz 2009-12-28 10:45 |
| #3 There are two ways around this. Either act quickly, and have States take over abandoned housing, low cost leasing it, with equity, to unemployed families, then at the State level, set up minimum wage employment projects for the home dwellers. Basically a giant temp agency, so they will have a little income when the unemployment runs out. Or, if everybody continues to screw around, to build pre-fab Obamavilles, at considerably better quality than if the unemployed have to build them themselves. |
| Posted by: Anonymoose 2009-12-28 08:25 |
| #2 To add to the Story : Cash-strapped US running out of unemployment money Here is an article : Here's the real story on America's unemployment |
| Posted by: Galactic Coordinator Whomoting7099 2009-12-28 02:24 |
| #1 ION PAKISTANI DEFENCE FORUM > GOLD BARS IN FORT KNOX ARE FAKE [dense gold-plated tungsten cores, NOT Gold per se]??? |
| Posted by: JosephMendiola 2009-12-28 02:14 |