Unemployment Benefits Would Be Retroactive

[babylonsister]

http://washingtonindependent.com/78061/unemployment-benefits-would-be-retroactive

Unemployment Benefits Would Be Retroactive
By Mike Lillis 3/2/10 12:49 PM


Here’s some good news for the long-term unemployed poised to exhaust their jobless benefits in the midst of Sen. Jim Bunning’s (R-Ky.) one-man stand against a temporary extension: the Senate’s long-term extension of UI benefits, expected to pass the upper chamber this week or next, would provide additional funding — including an extra $25 per week — retroactively beginning March 1, regardless of when the bill should become law. (The National Employment Law Project estimates today that the provision would benefit 200,000 workers set to exhaust their benefits this week alone.)

That marks a break from the UI extension Congress enacted in November, which didn’t provide retroactive benefits at all.

[onehandle]

1. One delayed check could destroy a family. Bunning is a monster. nt

[nebenaube]

2. call it the "late fee" boondoggle!

Repeal bankruptcy reform! Institute usury laws Now! These fuckers have set us all up for a knee-capping and now they are swinging the club!

[mmonk]

3. Exactly right. Many people are on the edge.

The lack of human empathy in this country always takes me by surprise.

[Junkdrawer]

6. NPR said those affected could always go to PayDay lenders...

That was when the thought was this delay would be measured in "days."

Now it looks like "weeks". How much will that cost those least able to pay?

[Donnachaidh]

11. npr should just STFU -- do they even KNOW how much interest these crooks ask for?

Jesus H. Christ -- payday lenders are the WORST thing to offer to desperate people? WTF were they thinking?

[Junkdrawer]

12. Here's the story: "Payday Lenders Find New Market"...

And our last word in business today is cashing in.

In this down economy, many working people turn to payday lenders for advances on their paychecks, and they pay exorbitant fees. And now, payday lenders have a whole new market of needy customers.

This morning's Los Angeles Times report that some of these lenders are offering advances on people's unemployment checks. The math is painful. A jobless Californian, who can't wait for his $300 a week benefits check can go to a payday lender and get $255 upfront with the remaining $45 going to the lender as a fee.

One man interviewed by the Times says he had done this three times since losing his job six month ago. He's done the math and decided it's cheaper than paying late fees on his household bills.


http://www.npr.org/templates/story/story.php?storyId=124188708

[tridim]

10. Yep, I had one UI check not get paid (as I moved to the Fed plan)..

and it resulted in $70 in overdraft fees from my bank on two autopay bills. Doesn't sound like much, but it's a huge blow when you're broke.

Fuck you Bunning.

From hall of fame to hall of shame in just 24 hours.

[Duer 157099]

4. I wonder if the credit card companies' late fees will be negotiable?

I made a post here:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=7826335&mesg_id=7826335

about the real financial consequences of Bunning's stunt.

Retroactive is obviously good, but late fees are real.

[Love Bug]

5. Good news, but it's still going to be a hardship for some who have to wait

One never lives hand-to-mouth more than they do when unemployed and living on UI. The good news for the economy is that money goes right back into it, making UI a more effective economic stimulus than bailing out big banks.

Does this retroactivity extend to the COBRA discount, too?

[Cirque du So-What]

7. Cold comfort

to those whose benefits get interrupted. Creditors and landlords don't give a good goddamn if the Senate says you're good for the money; their attitude boils down to 'fuck you, pay me!'

[Blue Diadem]

8. Thanks Babylonsister. I will pass on the info to those who

have been asking me about it the last few days.

[Tippy]

9. But what about the jobs that are being shut down....

This is unreal...Naturally it will be Obamas fault...