Unemployment Benefit Extension News Review today’s Update February 2, 2014:
Many out of work Americans are still in need, and over a million Americans who lost their long term unemployment benefit insurance over a month ago are still waiting for Congress to give them back the financial lifeline that was allowed to expire with the last calendar year. On December 28, 2013, long term unemployment benefit insurance expired for approximately 1.6 million Americans. These Americans have now endured weeks without unemployment compensation and its not just individuals suffering. Whole families have been negatively affected with over 2 million children enduring the loss with their out of work parent(s). The numbers are adding up too. Every week that passes without an extension adds about 70,000 more individuals to the ranks of those affected. Democrats and Republicans in Congress just can’t seem to agree on an extension plan though. Multiple attempts were made in January without success. Then, policy leaders went on recess which didn’t support process efficiency. Policy leaders are expected to reconvene this week and devote time to resolving the unemployment benefit extension crisis. The Senate is expected to vote on a three month extension plan. Data shows that an extension would likely boost the overall economy. All affected hope policy leaders keep this in mind when it is time to vote.