House Moves to Extend Unemployment Benefits

reply to post by fraterormus

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Well what do you think is so much effort to keep homeowners in their homes, yes they are giving them a free ride but as long as people keep losing their jobs and fail to find new ones the mortgage business will keep losing money with mortgage defaults.

But if you extend unemployment people will still have money to pay for the mortgages.

Interesting, nothing to create jobs but more tax payer money to keep the tax payers from defaulting on debt.

That's the same thing that's happening here in the county I live in, once a company lets somebody go, the position isn't "re"filled.

Companies around here aren't hiring, they're "down sizing" in order to survive.

Our unemployment rate went from 4.2% in April of 2007 to 15% in June of 2009! Since January of '09 it has increased 4% alone!

Unemployment Rate: Indian River County, FL

The recession is DEFINITELY not over, our unemployment rate is steadily increasing in my area and people who aren't on unemployment aren't making the money they used to, it's not only the unemployed people that are hurting!

[edit on 9/22/2009 by Keyhole]

reply to post by marg6043

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Although it looks like the world has avoided the next Great Depression, thanks in part to enormous stimuli injected into several world economies, most responsible economists agree that the last part of the economy to recover will be jobs.

Obama has said repeatedly that it will be at least another year before we see unemployment go down, maybe a little longer.

The government is just extending more unemployment benefits to help keep people afloat until things begin to turn around.

Yes, it's true that any assistance given to average Americans will help the economy, which includes banks and real estate investors and other financial interests, but unless the overall economy recovers the jobs won't come back.

That's capitalism.

[edit on 22-9-2009 by Sestias]

reply to post by Sestias

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You know what worries me the most Sestia, from where the jobs are going to come from, statistic shows that the bleeding of jobs for the pass 10 years due to outsourcing has eliminated most of the job gain from previews years, many of this jobs were middle class jobs that will never be back again under the current policies of our Government when it comes to globalization.

I think recovery without addressing the job issue and how it will be created is nothing but an illusion.





[edit on 22-9-2009 by marg6043]

It's funny that not everyone is able to join the military, I am not able to. Some people are just antimilitary, I however am not. It is unfortunate that I live in a state with a 15% unemployment rate, but theres not much I can do about it. College is out of the question right now, being the fact that I don't qualify for finnancial aid yet we can't afford enrollment.

I am a bit shocked that some members are coming down on the unemployed.

Have you lost your minds?

Right now in the USA, there are over six applicants for every open job.

Source

The Sunday paper in my area went from dozens of pages down to two sheets, and those sheets have giant ads filling in a great majority of the space. Mind you I am in one of the cities that is the best for jobs in the US.

There may be some freeloading like in the past, but we are seeing MILLIONS of people filing for the first time in their life for assistance. Those individuals that were making a decent 50-80k living and keeping afloat are now destitute. The job market for the lower middle class is decimated. Anyone that thinks the people are lazy needs to open the jobs section and witness the devastated working sector.

The U.S. economy shed 298,000 jobs in August, according to a report released by Automated Data Processing on Wednesday. The estimated job losses were heavier than the consensus forecast of 250,000. Source

In addition, your solution to up-root and move is not practical. Firstly, who is going to buy my house, and more importantly how much equity to debt will be left? If you have never moved from one state to another, I have news for you. Unless you abandon all your possessions (likely at a loss), it costs thousands of dollars to move. That is unless you have nothing to show for your life’s work. I guess they could just claim bankruptcy, and flee with their few last thousands of dollars, but that will not help the overall problem.

The report showed a drop of 152,000 workers in goods- producing industries including manufacturing and construction, while service providers cut 146,000 workers. Financial firms trimmed jobs by 19,000, ADP said, the 21st consecutive monthly drop for the industry.

Source

The unemployed are the victims; the Fed is using the UE payments to again bail out the banks.
Remember, politicians rarely bite the hands that feed them.

The difference between them and you is only a few paychecks.