Unemployment Extension: Tier V Needed–Legislators Deaf To Statistics
By Phillip Williams on July 26, 2010, 7:50 am Posted in Finance NewsWhen President Obama signed the unemployment extension into law, without COBRA, or additional tiers or weeks, he sent relief to millions of Americans. But a report released after he signed the bill shows that he should have called for legislators to start work on additional tiers and the COBRA subsidy, if he had known of the dire statement the report made, he may have made that call.
Over 55–Plan On Retirement
The report shows that if a person is older than 55 they stand little chance to get a job, Robert Reich, Secretary of Labor under Clinton, said “Extended unemployment benefits [are] helpful, but hardly the booster rocket that’s needed to get out of the gravitational pull of this terrible economy…If [an American is] over age 55 and unemployed, it’s unlikely they’ll ever be back in the workforce. Most families that depended on two wage earners will have to substantially tighten their belts for a long time. More young people will be living with their parents, and more families will be doubling up.”
Unemployment Rate High Until 2015
In the report, the speed that the unemployment rate is going to be reduced will be painfully slow. Remaining over the 9% mark until 2011 and only coming under the 6% pre-recession level sometime in 2015. Even with the bleak outlook in the report, Bernanke said that another recession wasn’t likely. In response to the report the President did order that several job creating bills be worked on. This still won’t ease the burden that the politicians will face in November, when the mid-term elections–and extensions run out.
Related posts:
- Unemployment Extension: Why Additional Tiers Will Be Needed
- Unemployment Extension: Tier V Still Desperately Needed
- Tier V Unemployment Extension: COBRA Subsidy Could Be Paid For
- Unemployment Extension: Tier V In Works–Schumer Comes Through
- Unemployment Extension: Will There Be A Tier V Or COBRA Extension
At some point the Help must end and self takes over. In Calif I drew 55 dollars a week many
years ago but; I and others had to go through a process each week to receive the help. Once every month you had to go through a special meeting and show where you have been looking for work.
The opportunity, get up brush yourself off and pull yourself up by your own boot straps.
It ain’t gona get any better for a long time.
Dear Mr. Smith-
It’s hard to pull yourself up by the bootstraps when you’re barefoot.
I paid unemployment for forty years. I wish I would have only had to pay it for 99 weeks, I’d be much better off financially.So what happened to all my money? If I buy car insurance and total it after a month do they only have to pay part? The jerks in Washington think we are stupid enough to listen to them when they say we are lucky they are looking after us. Send the bums home. They should have divided the stimulus bill between all the people who paid taxes and we would all be rich. Oh, that’s right, rich people are evil unless they are in Congress.
Mr. Smith,
Do you read the news? have you looked the last two years? THERE ARE NO JOBS,WAKE UP get educated on the fact, I have an MBA and been out of work over 2 years, ABSOLUTLY NO FAULT OF MY OWN, people ignorant like you should not be allowed to post in this forum.
Vote out all the incumbents in November! Send them a message!
To Rick you do not and never have paid for unemployment taxes these are taxes paid by your employer. Instead of everyone complaining we should get together as group and fight for what is ours tell congress and the senators that lowering taxes for the rich is not fair because the way it stands right now the rich become middle class, the middle class become poor and the poor die. Fight for a tier V, fight to have a rate equal acroos all states for benefits, some states can receive up to $800 where some receive only $240 where is the fairness in this all
Dash continues to resort to petty name calling and insults rather than legitimately defending or debating HIS views as a way of discrediting the views of others in an educated manner. This only solidifies the fact that he is fueled by hate and ignorance..not to mention the fact that he has absolutely NO game..and zero skills. I guess the truth hurts. Seem as though you don’t have what it takes to ‘counter’ our points because you KNOW very well that the unemployment crisis is PRECISELY as we report and claim and EXPERIENCE– and you just CAN’T admit that you’re WRONG. To continue your unfounded and undebated rant mearly makes you look like an uneducated hater. Get over yourself and go seek help. I’m sure there’s a support group SOMEwhere for you. Trolls Anonymous, perhaps?
The Repubican’s filibustered the Emergency Unemployment Extension for 6 Weeks. They and their Democrats never passed the bill and went on a July 4th vacation, an American holiday, while they stabbed unemployed American’s in the back. Dispicable !
They won’t give much needed relief to the 99′ers with a Tier 5 extension, in the worst depression since 1929, thanks to the criminals on Wall Street !
We give Israel $10 Million a day, a foriegn country, yet our own government won’t help it’s own people !
I’m done with BOTH the Republicans and Democrats, I will be voted for my Independent candidate – let’s boot out the politicans who have proven, they don’t care about the American people, all they care about is themselves and their rich friends!
What a sad contry we have become. We allow familys to lose their homes, but have nowhere for them to go. We give trillons of dollars to banks to boost the economy, while the common person can not even find a job. Why did the money not go back to the ones who desevered it? If the money would have gone back to the people then there would be more buying, with more buying comes more manufacturing orders, with more manufacturing orders comes more jobs. Now we the unemployed have to look for more costly federal aid such as welfare. Sure Washington can say that unemployment is dropping because of all the jobs that are being filled, but what they are not taking into account is that these jobs are being filled by 17 and 18 year olds just getting out of high school. You can not blame the kids for filling the jobs because most of them are now unable to attend college because their mother or father is unemployed and the money is no longer there. Manufacturers are taking advantage of this by hiring unexperienced kids to fill skilled labor jobs for minimal wage. What about the new trend that is developing of companies not working employees 40 hours a week. This way they exscape paying the benifit of a full time employee. There is also the crooks that pay benifits after 90 days but fire you on the 89 day because they know that there is 20 people waiting to fill the job. Why do we pay billions of dollars to have our military in other contries? Why are those contries not made to pay the expenses to have of there and if they do not we should pull our forces out. If they want a supplied military they should buy the arms not have them given to them. I know that if I want something I have to pay for it. Then we have our government that feels they can buy anything that they want and for any amount that they want unchecked. I think that when the tier V runs out that every unemployed person should circle the capital and not let anyone in nor out and let the government fell what it is like to have their reserves disappear to nothing and feel the hopelessness of having nothing and not knowing when help would be supplied. Two million desperate people would be very hard to deal with.