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2 years Of unemployment extensions?

The Giant Noodle

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There CANT be 2 years of unemployment extensions. Can there?? Look Im unemployed but this is.... too damn much! (if its true..... After all this is Fox "News")



The extension of unemployment insurance benefits is expected to pass the Senate today. Despite President Obama's attack on Republicans for delaying the bill, it could easily have passed a month ago if Democrats hadn't added so many other unrelated radical measures to it -- from higher taxes to changes in the Medicare reimbursement formula.
The bill President Obama has been hammering Republicans over in the last couple of days has been puzzling since he already knew that he had enough Republican votes to overcome any filibuster and pass the extended benefits.
The problem, though, isn't that there is insufficient Republican support to pass it. The problem is that the bill will ultimately increase long term unemployment and it will reduce our GDP.
Ironically, if some of Obama's attacks are correct, Republicans can only be accused of trying to help Obama's presidency.
Suppose, as the president said on Monday, that Republicans really believe "that emergency relief somehow discourages people from looking for a job." If that were true, those Republicans who are opposing the added extension of benefits would believe that defeating it would lower the unemployment rate.
Wouldn't a lower unemployment rate before the November elections help the Democrats? Isn't that a sign of true bipartisanship?
It doesn't take much of a stretch to see that cutting extended unemployment benefits from at least 95 weeks to around 26 weeks will cause the unemployment rate to decline.
The length of these benefits is unprecedented, they are already over three times longer than the longest previous extension of benefits. The benefits are also larger, with health insurance also being subsidized for the first time.
Now this new extension will increase benefits to up to 129 weeks. That is two-and-a-half years of benefits, almost five times longer than the previous extension.
This is almost like a drug addiction where the moment of truth keeps getting pushed off, with the unemployed having to accept a less desirable job than they held before keeps getting put off.
Yet, going for two-and-a-half years without a job does real damage to a worker's skills and productivity.People only get these unemployment benefits as long as they are unemployed.
Larger benefits encourage some people, who may be unhappy with their jobs, to become unemployed while they look for something better.
Others will be a little more reluctant to take a new job when they are offered it.
What is clear is that the percentage of the unemployed who are unemployed for more than six months has only increased during this recession after the length of the unemployment benefits was increased (see here).
Of course, every worker would like to hold out for a higher wage.
Unemployment benefits just let people hold out longer in hope of a better offer.
If you don't believe it, with the extended benefits temporarily eliminated over the July Fourth Congressional vacation, look at how the number of new filing for unemployment benefits has plummeted from 472,000 in the week ending June 26th to 429,000 in the week ending July 10th. That's the lowest rate in almost two years.
If unemployed Americans were solely motivated because they were having trouble finding a job, why didn't those eligible still file for benefits? You would think that they would apply for benefits whether or not it was 26 weeks long or 99 weeks.
My guess is that with the new extended benefits the number of new filings will immediately rise.
Unfortunately, despite President Obama's claims to the contrary, Republicans never really opposed extending unemployment insurance benefits.
Republicans have only asked that these benefits be paid for, and they've argued that in a $3.7 trillion budget there is surely $34 billion in there to cover the cost of these benefits.
Here is another simple prediction: as the unemployment benefits keep stretching out, the length of time that people are unemployed will go up.

FOXNews.com - Our Unemployment Insurance Addiction
 

cpwill

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HAH!

gypu, sucks to be unempeloyed in todays economy, but still and all, you can' vget gpkpijob with the restarataunts, and doint aspart time labor and ther's always positions at walmart mcdonalds, kfriggin, realestatehousinglawns, dlandscaping etc. stuff, you know? is available.

2 years, yup. thanklyou middle managemenetnenetn who isn unwilling togyt anotherjob who wants same paycheckas last had because you are stupid and dnot' realize your skillsa re no longer needed and in this new eeconoconeomy because you are redundant. to the dfaastedst and the strongest got he race!!!
 

drz-400

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So we have an idea of the long term unemployment we are talking about:

20091101-pphh12137h9fy2hxh4ri5sms9e.jpg


"What is clear is that the percentage of the unemployed who are unemployed for more than six months has only increased during this recession after the length of the unemployment benefits was increased (see here).

hmmm....Post hoc ergo propter hoc - Wikipedia, the free encyclopedia
 

drz-400

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HAH!

gypu, sucks to be unempeloyed in todays economy, but still and all, you can' vget gpkpijob with the restarataunts, and doint aspart time labor and ther's always positions at walmart mcdonalds, kfriggin, realestatehousinglawns, dlandscaping etc. stuff, you know? is available.

2 years, yup. thanklyou middle managemenetnenetn who isn unwilling togyt anotherjob who wants same paycheckas last had because you are stupid and dnot' realize your skillsa re no longer needed and in this new eeconoconeomy because you are redundant. to the dfaastedst and the strongest got he race!!!

HAH! :lamo
 

cpwill

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BECAUAEse, of this problemwnwith the paymetns and all else and tARP; !!!! taking moenty out of the investmasnswtments that ouwld be makng ing the new jobs and putitng themselveoinsettead into politicians piockets via other places nad companies!!!!
 

drz-400

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BECAUAEse, of this problemwnwith the paymetns and all else and tARP; !!!! taking moenty out of the investmasnswtments that ouwld be makng ing the new jobs and putitng themselveoinsettead into politicians piockets via other places nad companies!!!!

:comp:............... :drink
 

Lord Tammerlain

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The reason for the extended period of unemployement is the drastic drop in demand from consumers, and business's who are using their money to pay down debts rather then consumer (in either building new factories or on new cars). As the US has a huge amount of debt relative to GDP (total debt) it is going to be a long time before people will be able to consume at a normal rate. This means that a high level of unemployement is going to last for an extended period of time.
 

drz-400

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cpwill, how is the head feeling today? :2sick1:

:cheers:
 

cpwill

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better this afternoon than this morning, thank you.


:lol: although ya'll got the better part of it. apparently i wandered over to the boots' barracks last night and PUC'd and interrogated a couple of them in Arabic...... :lol: ahhhh.... good times.
 

The Giant Noodle

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better this afternoon than this morning, thank you.


:lol: although ya'll got the better part of it. apparently i wandered over to the boots' barracks last night and PUC'd and interrogated a couple of them in Arabic...... ahhhh.... good times.

Jesus man! :doh Do you even REMEMBER typing any of that? Were you using your face to type??!? :lol: :lol: :lol:
 

NolaMan

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There CANT be 2 years of unemployment extensions. Can there?? Look Im unemployed but this is.... too damn much! (if its true..... After all this is Fox "News")



The extension of unemployment insurance benefits is expected to pass the Senate today. Despite President Obama's attack on Republicans for delaying the bill, it could easily have passed a month ago if Democrats hadn't added so many other unrelated radical measures to it -- from higher taxes to changes in the Medicare reimbursement formula.
The bill President Obama has been hammering Republicans over in the last couple of days has been puzzling since he already knew that he had enough Republican votes to overcome any filibuster and pass the extended benefits.
The problem, though, isn't that there is insufficient Republican support to pass it. The problem is that the bill will ultimately increase long term unemployment and it will reduce our GDP.
Ironically, if some of Obama's attacks are correct, Republicans can only be accused of trying to help Obama's presidency.
Suppose, as the president said on Monday, that Republicans really believe "that emergency relief somehow discourages people from looking for a job." If that were true, those Republicans who are opposing the added extension of benefits would believe that defeating it would lower the unemployment rate.
Wouldn't a lower unemployment rate before the November elections help the Democrats? Isn't that a sign of true bipartisanship?
It doesn't take much of a stretch to see that cutting extended unemployment benefits from at least 95 weeks to around 26 weeks will cause the unemployment rate to decline.
The length of these benefits is unprecedented, they are already over three times longer than the longest previous extension of benefits. The benefits are also larger, with health insurance also being subsidized for the first time.
Now this new extension will increase benefits to up to 129 weeks. That is two-and-a-half years of benefits, almost five times longer than the previous extension.
This is almost like a drug addiction where the moment of truth keeps getting pushed off, with the unemployed having to accept a less desirable job than they held before keeps getting put off.
Yet, going for two-and-a-half years without a job does real damage to a worker's skills and productivity.People only get these unemployment benefits as long as they are unemployed.
Larger benefits encourage some people, who may be unhappy with their jobs, to become unemployed while they look for something better.
Others will be a little more reluctant to take a new job when they are offered it.
What is clear is that the percentage of the unemployed who are unemployed for more than six months has only increased during this recession after the length of the unemployment benefits was increased (see here).
Of course, every worker would like to hold out for a higher wage.
Unemployment benefits just let people hold out longer in hope of a better offer.
If you don't believe it, with the extended benefits temporarily eliminated over the July Fourth Congressional vacation, look at how the number of new filing for unemployment benefits has plummeted from 472,000 in the week ending June 26th to 429,000 in the week ending July 10th. That's the lowest rate in almost two years.
If unemployed Americans were solely motivated because they were having trouble finding a job, why didn't those eligible still file for benefits? You would think that they would apply for benefits whether or not it was 26 weeks long or 99 weeks.
My guess is that with the new extended benefits the number of new filings will immediately rise.
Unfortunately, despite President Obama's claims to the contrary, Republicans never really opposed extending unemployment insurance benefits.
Republicans have only asked that these benefits be paid for, and they've argued that in a $3.7 trillion budget there is surely $34 billion in there to cover the cost of these benefits.
Here is another simple prediction: as the unemployment benefits keep stretching out, the length of time that people are unemployed will go up.

FOXNews.com - Our Unemployment Insurance Addiction

Glad to see you have seen the light after your last "lapse."

You were all for an extension a mere week ago.
 

phattonez

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Unemployment benefits continually are extended; unemployment persists. What's so complicated here?
 
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