Learning and Finance

current trends in the world of learning

Federal Unemployment Extension 2010 Blocked; Tiers of Insurance not Enough; November 30th Expiration Date for Benefits

Posted on | November 21, 2010 | No Comments



Federal unemployment benefits for many Americans have an expiration date. November 30th, 2010 is the date on which unemployment benefits are now set to expire. Unemployment insurance tiers are not enough for many across the nation. The Unemployment rate across the nation continues to remain elevated and many Americans are struggling on a daily basis to find gainful employment. Congressional Republicans just blocked a national measure that would have extended/reauthorized a national extension of unemployment benefits.


This reauthorization would have allowed individual states the ability to pay unemployment compensation past the standard 26 weeks up to 99 weeks. Without the extension, 2 million people will go without jobless benefits. Some argue that we should be utilizing our resources to reduce the national unemployment rate and deficit rather than provide more provisions for the growing number of those that are already unemployed. One study on the cost of losing jobs shows that it makes economic sense to invest in ways to reduce the list of unemployed. It shows that it will cost taxpayers less money to save a job through job loss prevention programs than to lose a job and then provide for the unemployed. Regardless of this opinion, benefits for many are set to expire on November 30th, 2010. House Republicans blocked the reauthorization with a filibuster which ends the opportunity to pass the measure before the authorization expires. House republicans have stated that they do not wish to add to the national debt.

Author: Stephen Johnson

Comments

Comments are closed.

  • Switch to our mobile site