Unemployment Extension Passes Senate: How Long To Get The MoneyBy Jeffrey Paulsen on July 21, 2010, 12:40 pm Posted in Business News
After months of battling over the extension of unemployment benefits, Democrat junior Senator Carte Goodwin broke the Republican filibuster immediately after being sworn in. Goodwin fills the seat left by the late West Virginia Senator Robert Byrd.
Where Does Unemployment Go From Here
The bill now goes back to the Senate for its approval which was already given weeks ago. Once this process has been completed the bill will go to President Obama for his final approval. Unemployed Americans are hoping this will happen within the next few days.
This delay has caused millions of unemployed people the loss of their benefits almost seven weeks ago. The President was appalled by the reaction of the Republican House Committee to deny these hard working Americans the ability to sustain. Past history shows that extending benefits helps the economy and creates jobs. Most of the benefit dollars are immediately pumped back into the economy, experts say.
What Are The Benefits And Who Is Eligible
According to the bill, the Federal Government will absorb the extended benefits after state and local benefits expire. Although the extension will give the unemployed some financial relief, it neither offers additional benefits for those who have been out of work for 99 weeks or longer nor does it offer additional COBRA benefits after the initial twenty-six weeks, making health care unaffordable for most.
In June the number of long term unemployed Americans held steady at 6.8 million. Although we have had a steady increase in the number of private sector jobs in the last 6 months the public remains skeptical. There were 882,000 jobs added to the economy last year but those were temporary jobs for conducting the 2010 census.