Unemployment Benefits Are About To Expire For 4 Million Americans

[babylonsister]

http://tpmlivewire.talkingpointsmemo.com/2010/11/unemployment-benefits-are-about-to-expire-for-4-million-americans.php?ref=fpc

Unemployment Benefits Are About To Expire For 4 Million Americans
November 3, 2010, 11:21AM

Business Insider | Business Insider


You may have heard before about how there was a coming wave of unemployed Americans who would all lose their extended unemployment benefits en masse.

Well, it's finally happening, as shown by Monday's personal income data for September, which fell 0.1% rather than rose. Much more is to come.

Free Exchange:

And so what we're seeing is the first big bulge of jobless workers exhausting their benefits. Over the next few months, that bulge will become a wave. Things will become significantly worse next month when existing benefits expire. By April, nearly 4 million jobless Americans will have run out of benefits.

Optimists will say that waves of unemployed will be now forced to become less picky about jobs and simply earn an income, which will bring down unemployment:

The Casey Mulligans of the world are likely ecstatic about this turn of events; the disappearance of a major disincentive to find new work has vanished, and so employment should rise rapidly between now and the spring. If all of the newly benefit-less workers find new jobs, the unemployment rate will drop a good two percentage points.

Skeptics will say however that the unemployed haven't been too picky, and that there just aren't enough jobs, even low paying ones, to absorb them:

If most of those falling off the rolls of benefit recipients can't find new jobs, then the demand impact of benefit exhaustion--the blow to consumption--will swamp the boost to the economy from the lucky few who are able to find work. The drag on personal consumption growth will slow recovery, making life hard for other jobseekers.

American austerity begins.

[eleny]

1. Well, maybe the House will ext.....

nevermind.

[scheming daemons]

2. Boehner will get the blame

[EnviroBat]

3. Republicans will block extending these benefits.

This is what you wanted America, right? It certainly is what you dumb fuckers voted for last night.

[tsuki]

5. I've got to agree. And wait until you have to line up at one of Scott's

clinics to get your drug test before you get benefits.

[Iris]

4. Well, good. Those benefits just incent people to stay at home and not work.

Just ask Rand Paul.

[tsuki]

6. Was that Rand Paul or Michelle Bachmann? Or is Michelle Bachmann

just Rand Paul in drag? You be the judge.

[Iris]

11. lol! Not sure. I think it's just the "libertarian party" line!

although, I like the idea of there actually being only 1 of them playing multiple roles!

[taught_me_patience]

7. It's what the people voted for

You reap what you sow... that's how it goes...

[SCRUBDASHRUB]

8. Yeah, it's so fucked up to me. Voted against their interests. Thanks a lot, assholes.

[matt819]

9. Jobs

I just learned that on the jobs/career website of a leading university, the majority of job listings are for entry level jobs at Starbucks, McDonald's, etc. So that's what today's grads have to look forward to. Astounding. But I'm sure the RW extremists have a plan.

[grilled onions]

12. Those Wonderful Entry Level Jobs

How many of those politicians have ever,would ever work at such a place longer then a day or two. They do not understand many of these job seekers were making a half way decent living, enough to pay for the car payment,rent,utilities,food etc and to see what jobs are out there which won't even one of the major monthly bills is not an insult--it's insanity. It's unrealistic to expect a wage earner,supporting a wife, kids or maybe elderly parents to get a job that won't even allow you full time work,never the less at a livable wage. Benefits is not even in the picture these days. I don't see those politicians taking a cut or being forced into helping out with cleaning the floors and toilets in the Capitol Building!

[Naturyl]

14. Oh, quit your complaining, you're just spoiled

Mickey Dees is always hiring. Get a jawb, ya bum.

{sarcasm}

[thecrow]

10. I will lose my home of 16 years.

Today the unemploymnt people called to say that the end is near.
They were responding to an email I sent 2 months ago.
Apparently they are short staffed!
Maybe I should by a van... my car is too small to sleep in.
So if I should disappear from here, you'll know where I am.
Any body got some spare refrigerator boxes?

[Naturyl]

13. There's a silver lining in this.

Everybody suddenly finding themselves without a damn place to turn should be considered ripe for the truth about left and right.

Painful as it is, this is exactly what it might take to revive the American left - IF we actually seize the opportunity.

[matt819]

15. We won't

Somehow we'll fuck it up, and the people who most need support will be out there railing against socialism and big government. We're schmucks, and they're fools. Is it any wonder the Chinese have built the fastest supercomputer, and we'll never see first again in these sorts of categories.

[Rex]

16. Well, now we have an orange skinned reptilian manlike creature to blame!

LET THE NEW BLAME GAMES BEGIN!!!!

[readmoreoften]

17. Scary as hell.