Unemployment Benefits Hereby Extended

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This was tougher to get than it should have been. I hope the unemployed who are victims of the financial shenanigans of Wall Street realize who delivered on this package of benefits — and who tried to block it.

THE WHITE HOUSE
Office of the Press Secretary

______________________________________________
FOR IMMEDIATE RELEASE
July 22, 2010
Statement by the Press Secretary on H.R. 4213
On Thursday, July 22, 2010, the President signed into law:
H.R. 4213, the “Unemployment Compensation Extension Act of 2010,” which extends initial eligibility for emergency unemployment compensation and 100 percent Federal funding for extended unemployment insurance benefits through November 30, 2010.

— Steve Clemons

Comments

7 comments on “Unemployment Benefits Hereby Extended

  1. David says:

    While I see #2 differently, this is an extremely intelligent, informed commentary, Don. I love the idea of a national security tax as a separate item. That would get people’s attention, and would forward the discussion in ways nothing else can. Thanks for posting these thoughts, and doing it so concisely and adeptly. Funny how the truth can be so simple, isn’t it?

    Reply

  2. Don Bacon says:

    Deficit panic could be instructive if we realized that nearly half the US employment is directed toward what the various governments do, some of which is certainly useful but some of which is wasteful and unaffordable.
    Also we must realize the deficit is not the fault of social security but mainly of military expense, that portion of employment and procurement which is not only wasteful but which actually threatens our security.
    Also:
    1. Those rust belt jobs are not coming back. They

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  3. David says:

    A trillion a year for our military machine. That should give us pause. A trillion to stimulate job creation should inspire us. My question is Who is pushing the deficit panic, and why? Cheney certainly didn’t when he was VP. Quite the opposite. I think it matters, but I think the panic is being hyped at the wrong time, for the wrong reasons, by the wrong people. If America’s work force isn’t put back to work in good paying jobs, the rest of the discussion will continue to degenerate in deficit hawk blather. The only way out of this debacle is to work our way out, collectively, with the federal government as the catalyst and a temporary prime mover. The private sector so far is refusing to. Investors would rather put their money in gold than in the economy. Gold, for crissakes. What in hell does gold grow?

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  4. Don Bacon says:

    But the deficit (resulting in deficit panic) this fiscal year, about the same as last year, is projected to be $1.47tn or almost five thousand dollars per US man, woman and child. (check my math, please, I have a poor record)
    So that’s almost ten grand each just in the last two years. To paraphrase an old saw: A trillion here, a trillion there, and pretty soon you’re talking real money.

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  5. David says:

    When it takes this much of a fight just to get what should never have been suspended, and when “deficit panic,” as I saw it referred to the other day, is so rampant that Obama cannot even pursue the kind of stimulus the economy actually requires to turn the grim numbers regarding unemployment and underemployment around, we simply will not see anything resembling adequate amelioration of this debacle.
    The one potential ray of light was shined on this darkness when Obama met the other day with Warren Buffett and Bill Clinton for the purpose of finding ways to engaging the private sector in getting credit flowing again on Main Street. Small and medium businesses are the lifeblood of employment in America. Banks so far are refusing meaningful support for this critical sector of the private economy.
    I think Obama will keep pushing, and if Democrats can maintain control of Congress and thereby upend the current national narrative, I think he will push significantly harder and begin to find more success.
    But godamighty, the obstructionist obstacles being put in his way and the success of the “deficit panic” narrative sure as hell don’t help, a narrative promoted vigorously by the people who thought Dick Cheney was a good idea, he of “Reagan proved deficits don’t matter” fame.
    Will the absurdities never end?

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  6. Susie Madrak says:

    And of course, the unemployed Americans who already
    ran out of benefits are somehow supposed to find a
    way to survive in this mess. What a shame the
    Democrats don’t have the political spine to add a
    Tier V.

    Reply

  7. Don Bacon says:

    This is good, restoring aid to nearly 3 million people who have seen their checks cut off since the program expired June 2.
    But there are 25 million Americans that we know from the BLS who are in trouble: “unemployed, plus those marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force”.
    We also know that 35 percent of eligible Americans (16 and over) are not even considered to be in the labor force, about 82 million people. While these include people who don’t need or want to work, they also include those people who have never been in the work force (new college grads, etc.) and want to work, as well as those who have given up looking for employment.
    Meanwhile, the administration points only to the slightly increasing jobs statistics, not mentioning that the population is increasing. (Stop it, you two!)

    Reply

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