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Five Million Workers to Exhaust Unemployment Benefits by June

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posted on Feb, 15 2010 @ 08:00 PM
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Five Million Workers to Exhaust Unemployment Benefits by June


www.calculatedriskblog.com

1.2 million jobless workers will become ineligible for federal unemployment benefits in March unless Congress extends the unemployment safety net programs from the American Recovery and Reinvestment Act (ARRA). By June, this number will swell to nearly 5 million unemployed workers nationally who will be left without any jobless benefits.
(visit the link for the full news article)



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posted on Feb, 15 2010 @ 08:00 PM
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Obama has stated he will create 95,000 jobs/month....soon. What percentage of those jobs will be full time employment is anyone's guess. The trend of casual or part time employment is all the rage right now so not much should be expected in terms of increasing economic confidence. Now up to 5 million people will exhaust their benefits unless another extension is given. If no extension can be provided that's a hell of an added strain to an already crumbling system.

I'm not partial to posts that speculate on the next doom and gloom scenario, but June really appears to be ripe for massive and unprecedented grief. I won't even bring Iran into the picture or the current EU problems.

brill

www.calculatedriskblog.com
(visit the link for the full news article)



posted on Feb, 15 2010 @ 08:08 PM
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They'll extend it. They always do. Like clockwork. State and Federal level.

I wonder what the majority of the unemployed will do when it turns out that many (most?) may never have (the same job) to return to because that job they had was a bubble-job to begin with.

Many (most?) of these people should have been allowed to use that money towards education and training. Perhaps they wouldn't now be unemployed...




[edit on 15-2-2010 by LadySkadi]



posted on Feb, 15 2010 @ 08:14 PM
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I probably only have roughly 3 months of unemployment left myself. I think I have one more tier to go before exhausting the benefits. Work is tough to find, and employers want to work the employees they have to death. It all makes me laugh with how working for someone has become a ticket to living with food and shelter. I would buy some hot dogs and buns and head out to a busy street corner to sell them if this truly were the land of the free. Unfortunately I would have to spend thousands to the same government I am receiving unemployment benefits from to even try to sell 1 hot dog. Such is our life as only those with money can get ahead unless you borrow it from someone else.

Here are the facts though. Extending unemployment at this point is necessary. Since the banking empire has brought this country to it's knees and robbed the wealth from citizens, they need to print a few hundred million to keep people fed a few more months. In that printing they need to recognize that printing money is never the solution to keep people fed. Making it legal for me to start a business with no costs to me is the key. I might actually be successful.



posted on Feb, 15 2010 @ 08:18 PM
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The beginnining of the end of the America you have come to love.
Move to Canada, it will take us longer to destroy our way of life.
Unless you try bringing in the nukes. They gotta stay at the border.


[edit on 15-2-2010 by Cynic]



posted on Feb, 15 2010 @ 08:25 PM
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Originally posted by LadySkadi
They'll extend it. They always do. Like clockwork. State and Federal level


Is that an extension under the TARP provision or just printing more money? What's worse is these are documented numbers, who really knows true numbers of unemployment and others who have just given up.

brill



posted on Feb, 15 2010 @ 08:38 PM
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Agreed . The numbers are too stupid to be believed. I believe this is akin to something likr the Soviet Army not being paid for months after the collapse, but try that with a guy or gal at Burger King, you go a riot on your hands. Why do you think think they have Camps and transportation ready. Look out Amerika, I love you you are in serious doo doo.


[edit on 15-2-2010 by Cynic]



posted on Feb, 15 2010 @ 08:40 PM
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reply to post by Cynic
 


Yeah except Canada will collapse right after the US does because 50% of Canada's GDP is exports to the US.

When the US crashes, most of those jobs are gone.

Not to mention the baby boomers who are about to retire and that the young population to support them isn't there.

My mother is working in Quebec government and they are already cutting their pension funds.

[edit on 15-2-2010 by Vitchilo]



posted on Feb, 15 2010 @ 08:49 PM
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reply to post by LadySkadi
 



Many (most?) of these people should have been allowed to use that money towards education and training. Perhaps they wouldn't now be unemployed...


They got a lot of loops to jump through. They have to have a HS diploma/GED. They have to have certain levels in reading, writing and math.

It has to be a program where they can get a certificate or two year degree, mostly vocational. Oh yea, it doesn't cover the whole two years.

Tons of paperwork has to be filled out by laid off worker, workforce, and the vocational school.

When I went for retraining in 2000, I got so frustrated, I gave up. I ended up financing my own education because they wanted me to basically get the quickest thing I could.



posted on Feb, 15 2010 @ 08:49 PM
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A few years ago people could sit by and say that nothing would happen and that all this possible collapse stuff is just BS. Now that you have people from all walks of life standing up and taking notice that things just don't add up anymore, it's hard not to say that some serious ($&@ is not on the horizon. If you have not already started preparing yourself both mentally and physically for things to drastically change for the worse then maybe you should get off the fence and reconsider your position. Just my .02.



posted on Feb, 15 2010 @ 08:51 PM
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If the government wants America to fall, they will not extend benefits.

If they don't want America to fall, they will.

I have to extend mine in 4 weeks and I really hope to have a job by then. My neighbor applied to CVS about 6 months ago and the manager told her that there was about 1,000 applicants for the job. In a town with a population of about 20,000, that's not a good sign.

It's hard out there.



Peace



posted on Feb, 15 2010 @ 08:54 PM
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reply to post by jam321
 

I understand. Under current policy, it is a nightmare. I was simply musing that under current economic conditions, the policy should have been revised or an amendment temporarily instated such that people could be helped to help themselves. Bureaucracy at it's finest, really blows.



posted on Feb, 15 2010 @ 08:58 PM
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I lost my job several years ago. I went from $16 an hour to minimum wage. I couldn't do it. I'd rather live on the street which I'm pretty close to doing.

I refuse to work for peanuts. I'm better off jobless.

[edit on 15-2-2010 by wantsome]



posted on Feb, 15 2010 @ 09:08 PM
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reply to post by brill
 


So… if the way the Gov. counts unemployed people is based on the amount of people receiving unemployment benefits and are actively seeking work. Than by removing five million from the count should bring the unemployment rate down substantially. Isn’t that how we went from 10% to 9.7% unemployment last month?
Just a little food for thought.



posted on Feb, 15 2010 @ 09:15 PM
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Originally posted by murfdog
reply to post by brill
 


So… if the way the Gov. counts unemployed people is based on the amount of people receiving unemployment benefits and are actively seeking work. Than by removing five million from the count should bring the unemployment rate down substantially. Isn’t that how we went from 10% to 9.7% unemployment last month?
Just a little food for thought.


Ok. So once these people and their families have exhausted unemployment benefits, what then? Many may turn to welfare to provide food and shelter. Perhaps the unemployment rate would drop but the impact on social services and required funds could increase. Couple that with even less people contributing tax dollars to pay for said social services and well you get the idea....

brill

[edit on 15-2-2010 by brill]



posted on Feb, 15 2010 @ 09:20 PM
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In my state they have sent me two differing re-determinations of my UI. One is $250/wk less than the other and of course they are sending me the lowest amount. They are both for another 47 weeks. I can't get an decent answer from them either. The system is so screwed up that I fear that they will just terminate my UI due to their incompetence!

Zindo



posted on Feb, 15 2010 @ 09:44 PM
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reply to post by brill
 


Hay I’m not saying it’s a good idea for the fed to do such a thing. All I’m saying is that I think Obama would do it if he thought it would make him look better in the poles.
You see politicians especially career politicians live in a vacuum and don’t feel the pain they inflict on others outside of there sphere. All we are to most of them is a statistical number on a chart they use to make decisions that will get themselves reelected.
If they thought they could get away with hiding 5million unemployed to reduce the unemployment rate, I wouldn’t put it past them.
The suffering from such a move would be horrible so I don’t think it will happen.



posted on Feb, 15 2010 @ 09:46 PM
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They'll extend. Just look up "Cloward Piven strategy". Extending benefits and getting more people on the dole is a researched strategy to bring down the US.



posted on Feb, 15 2010 @ 09:51 PM
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And if you read the 2011 budget, tax cuts and help to poor people is slashed all across the board...

But of course military spending is up...

What is cut that goes to the people...



Family Housing -19.6%
Unemployment insurance -47.2%
Income tax credit -4.6%
Child Tax credit -0.4%
Child support and family support -25.2%
Low Income Energy Assistance -35.3%
Other Nutrition Programs -48.6%
Home Investment Partnership Program -9.6%
Public Housing Capital Fund -18.2%
Low Income Housing Tax Credit -61.9%
Grants to states for Medicaid -11.2% (when states are bankrupt...)
Children Health Insurance -0.2%
Health Care tax credit -29.5%
Other farm credit activities -48.2% (gotta kill those small farms!)
Federal housing loan program -36.7%
Small and minority business assistance -8.7%

So yeah the people are being screwed...

While this important stuff is being cut, most of the police state apparatus see it's budget swell up... Yeah sure Obama is for the people...


[edit on 15-2-2010 by Vitchilo]



posted on Feb, 15 2010 @ 09:55 PM
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Originally posted by Mountainmeg
They'll extend. Just look up "Cloward Piven strategy". Extending benefits and getting more people on the dole is a researched strategy to bring down the US.


That's an interesting read, thanks. Imagine the idea of a "guaranteed national income". I'm not even sure what that would lead to or more importantly how it could be sustained?

brill



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