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Now, there is legislation proposed in the U.S. House, with a similar bill in the Senate, that would allow states to use federally extended unemployment benefits for other uses, such as paying off debt the state owes to the federal government, paying for regular state benefits, or paying for reemployment services such as job assistance and job training, or improving the balance in their state unemployment trust funds.
The so-called Jobs Act (HR 1745) introduced by Rep. Dave Camp, R-Mich., allows states to divert the federal funds.
The Congressional Budget Office anticipates that $32 billion will be paid for emergency unemployment compensation and extended benefits from July 2011 until May 2012 under current law. The Jobs Act would end the entitlement to those funds and allocates $31 billion to the states in a new block grant.
The legislation could potentially eliminate about $40 billion in economic activity resulting from putting cash in the hands of needy families who will spend it, according to the Economic Policy Institute.
Originally posted by macman
Nothing more then the Fed Govt buying off the State Govt.
Originally posted by macman
reply to post by spyder550
Ignored, until you get your facts straight and pull your head out of the sand.
Originally posted by Vitchilo
Won't be long now before that unemployment is used to make some more ``tax cuts`` to the big corporations or give them some more subsidies.
Originally posted by spyder550
Originally posted by macman
reply to post by spyder550
Ignored, until you get your facts straight and pull your head out of the sand.
And what facts aren't straight?? Is it the letter? Is it the box full of stupid proposals? Just what facts might there be wrong in there.edit on 12-5-2011 by spyder550 because: (no reason given)
Under the Jobs Act, a state could decide to use the federal funds to pay for regular state unemployment insurance benefits. This would relieve state employers of the need to pay for those benefits and allow for a temporary tax cut on all employers in the state that pay unemployment insurance taxes. With this approach, about 198,000 jobs would be created, EPI estimates, but that 124,000 fewer than under current law.
Originally posted by spyder550
The economy is getting better -- would help if the Bush tax breaks weren't there but if you are an investor the economy is getting better. Private sector jobs are increasing. The small manufacture that I work for has had the best 3 months in 25 years (and we make parts for other manufacturing, so they must be building something] .
If you will look the economy always does better under democrats -- we have a deep hole to dig out of. Damn those facts.edit on 12-5-2011 by spyder550 because: (no reason given)
Originally posted by spyder550
reply to post by neo96
Yep read the article -- basically the bill cuts job growth and slows economic activity. It's like this - unemployment insurance helps somewhat the unemployed. (in my case unemployment would be equal to less than 25% of my take home pay, which is not much incentive to not look for work) This money is immediately turned over into the economy (not the family trust fund) this helps the butcher the baker and the candlestick makers in the community; these guys then stay in business weather the storm, keep current employees and perhaps be in a better position to hire more employees. This is what we learned in the 30s and this is what we forgot in this century. Welfare works the same way -- I am not concerned that someone buys beer on welfare - it keeps the bodegas running and the owners of those stores pay taxes and buy more stuff. This is also what we learned in the 30s but have forgotten not.
Originally posted by wildtimes
I am a social worker. I used to HELP the disenfranchised find ways to solve their problems.
Now I AM one of those disenfranchised, and very worried about what is going to happen to me after decades of hard work and honesty.