500,000 Americans to lose unemployment benefits by Sept and 1.5 million by the end of the year

OCCOBRA_IHB

OCCOBRA_IHB

New member
So what happens in next year when everyone can not find a job other than Wal-mart or Fast Food runs out of benefits at about 500,00 a month. Why have i not heard anything on job incentives for employers to hire. Oh, sure there is the stimulus that is going to create jobs but unless you like to dig ditches or work construction i highly doubt this going to help and it is in increments of 50 billion a month for the whole nation but it is short lived and in another year the money will be gone then what? It is a small drop in the bucket. When they passed that bill they thought it would hold unemployment to 8.5%! Like me and many of my friends who are unemployed close to a year now there are no jobs that pay more than what you are making on unemployment believe me i have been looking a long time. And considering the cost of gas, laundry, meals, babysitting and meals if you can not help if you had a job there just is no jobs out there paying $20 an hour which is about equal to about what you need to make if you where going to get off unemployment at the top level and try to make it. Sure that state says $11.50 is supposed to be equal to your hourly benefits on unemployment but after they raised taxes on income and sales that figure may only work if you walked to work and could wear a t-shit and jeans and they fed you 3 meals a day they are on the pipe. So now you wonder why the phenomenon of people just staying on unemployment is it just does not pencil out as there are no high paying jobs out there nor being created . So now you have people who will eventually go back to work part time if it all after their benefits run out but they will be lucky to make a 3rd of what they used to make and will be working 2 jobs. So what will give? More foreclosures, car repossessions, less consumer spending, no medical insurance so more BKs and whole lot more people on welfare and food stamps which by the way are up 50% from last year. We are going to see some real hard time for years to come and we will survive it i am just tired of the term "bottom of the market" and "green shots" phrases as they are just lying to my face and i am going to slug the next A#%hole that says it. You tube Walstreetpro and there is this southern boy who in the beginning sounds like he does not know anything but when he starts talking about the economy and the latest facts he nails the truth and exposes the lies as he destroys Chinese products with a baseball bat. Rated "R" so be forewarned he curses a lot...



Article:

http://globaleconomicanalysis.blogspot.com/2009/07/500000-will-exhaust-unemployment.html
 
[quote author="no_vaseline" date=1248349682]"qu'ils mangent de la brioche."



<a href="http://en.wikipedia.org/wiki/Let_them_eat_cake">cite.</a></blockquote>


Fetchez la vache!
 
<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object>
 
man, is that from the comments? or is that Mish?



either way, it is true. ~500k people per month will start falling off the back end of UE early 2010, which will be the 72nd week (or is it 79 now?)





Do you think that they will see the writing on the wall, and make <strong>yet another extension</strong>????
 
[quote author="freedomCM" date=1248405030]man, is that from the comments? or is that Mish?



either way, it is true. ~500k people per month will start falling off the back end of UE early 2010, which will be the 72nd week (or is it 79 now?)





Do you think that they will see the writing on the wall, and make <strong>yet another extension</strong>????</blockquote>


Sept is the first month when people start falling off the 79 months of unemployment in droves. The white house is trying not to do another stimulus plan and trying to get the first one they did in February to take hold though i have not seen anything in the media showing it doing any good and helping the economy. Obama is obsessed trying to push health care when he really should be pushing for creating more permanent jobs by giving incentives to employers to hire, to bring back offshore jobs lost and to spur more manufacturing jobs for exporting goods etc. All these road improvement and infrastructure jobs etc from the first stimulus are all going to mostly Unions shops which means fat chance that anyone like you or me who is not connected to the union and unemployed will ever see any of these jobs. It is a real joke. I think we will see another stimulus bill at the end of the year when Obama figures out that he will not win Health care and the tsunami of 500k Americans dropping of the unemployment roles every month will cause consumer spending to drop like a rock (Think more foreclosures, car repos, higher credit card delinquencies and more BK's)causing even more layoffs that the government is going to have to step in with another stimulus plan to help the unemployed and to create more jobs.
 
[quote author="no_vaseline" date=1248385598]<object width="325" height="250"><embed src="http://www.youtube.com/v/youtube" type="application/x-shockwave-flash" width="325" height="250"></embed></object></blockquote>


Very nice...
 
[quote author="freedomCM" date=1248405030]man, is that from the comments? or is that Mish?



either way, it is true. ~500k people per month will start falling off the back end of UE early 2010, which will be the 72nd week (or is it 79 now?)





Do you think that they will see the writing on the wall, and make <strong>yet another extension</strong>????</blockquote>
When did they extension the unemployment period from 59 weeks to 72 or 79 weeks???
 
[quote author="usctrojanman29" date=1248481619][quote author="freedomCM" date=1248405030]man, is that from the comments? or is that Mish?



either way, it is true. ~500k people per month will start falling off the back end of UE early 2010, which will be the 72nd week (or is it 79 now?)





Do you think that they will see the writing on the wall, and make <strong>yet another extension</strong>????</blockquote>
When did they extension the unemployment period from 59 weeks to 72 or 79 weeks???</blockquote>


The stimulus bill signed by Obama in February 2009 gave another 20 weeks to the 59 weeks and gave an extra $25 per week and pays 65% of the total cost of Cobra beginning the 2nd month up to 9 months total.
 
You must log in or register to reply here.
Back
Top