Monday, September 21, 2009

The Recession is Ending, so lets extend Unemplyment benefits by 13 weeks!

So all of the governments talking heads keep spewing this baloney that the recession is over yet they turn around and do something like this. From AP
WASHINGTON (AP) - Despite predictions the Great Recession is running out of steam, the House is taking up emergency legislation this week to help the millions of Americans who see no immediate end to their economic miseries.

A bill offered by Rep. Jim McDermott, D-Wash., and expected to pass easily would provide 13 weeks of extended unemployment benefits for more than 300,000 jobless people who live in states with unemployment rates of at least 8.5 percent and who are scheduled to run out of benefits by the end of September.

The 13-week extension would supplement the 26 weeks of benefits most states offer and the federally funded extensions of up to 53 weeks that Congress approved in legislation last year and in the stimulus bill enacted last February.

People from North Carolina to California "have been calling my office to tell me they still cannot find work a year or more after becoming unemployed, and they need some additional help to keep their heads above water," McDermott said.

They claim the recession is easing but need to extend unemployment benefits another 13 weeks? What this does is understates the unemployment number as those people covered under unemployment insurance aren't factored into the jobless numbers or jobless rates that the government announces.

Doesn't exactly sound like the recession is ending.

No comments: