Unemployment Benefit Extension news update today March 4, 2014:
Some congressional policy markers may be looking for economic signs to avoid extending long term unemployment and a possible sign came via the personal income report this week. According to the report, personal income rose by .3 percent in January after falling the previous month. The drop in personal income during December was due, in part, to the expiration of jobless benefits that affected over one million unemployed Americans. The expiration of benefits curbed income growth for the month of December but the fact that benefits have yet to be extended and personal income numbers still rose higher in January adds fuel to the argument that says the economic recovery is happening sufficiently and another benefit extension is not required at this time.
Many are upset that Congress and the President have not done more to this point to help almost 2 million Americans that are living day to day without employment and without long term unemployment compensation. Many Americans wonder what President Obama meant exactly when he said, during his State of the Union speech, that we should support the nation’s unemployed.
It is now the fourth month during which some Americans have been without long term unemployment compensation. The Senate is still debating the measure. After February was filled with false hope and two filibusters, Senate policy makers are sounding more optimistic that the measure to extend will finally pass their chamber this month. Republicans continue to reiterate that benefits must be paid for via an offset somewhere in the budget. They also call for new job initiatives to be included for the measure to receive serious consideration.