Unemployment Extension Vote: American's Jobless Benefits Available Soon
The Unemployment Extension Vote Passes Without COBRA Subsidy or $25 Stimulus
The extension shaves down benefits available. For instance, the $25 previously given out during prior legislation was done away with in this bill to make it more affordable and gain GOP support.
In addition, the previous extensions also happened during a time when COBRA subsidies were available. The subsidies, which the government used to pay 65% of the premiums experienced, are not included in the bill. Again, they had to be taken out to shave down the cost of the legislation to get Republican support.
The loss of the COBRA subsidies will be a financial burden on many Americans who do not have access to health insurance other than through their former employer. However, COBRA benefits are only available for 18 months and some of the long term unemployed have already lapsed this hurdle anyways.
Still yet, the jobless will have to find other means, such as through Medicaid or low-income plans, to secure the health benefits that they need.
What isn't available after the unemployment extension vote is another tier of benefits. A so-called "Tier 5" would allow the jobless to have extra time to secure employment before they are left without a lifeline.
Although 99 weeks is almost two years (two years is 104 weeks) it's still not enough in states such as Nevada and Michigan, where double digit unemployment and lacking job markets have made it impossible to survive. In Las Vegas, the once booming housing market has left half-constructed suburbian ghost towns riddled throughout what was once a bustling metropolis.
In Michigan, as the Big Auto has fallen to its knees, so has the state. Once the epitome of industrial success, Michigan showcases the failure of the government to protect the American worker through more stringent international trade regulations.
The unemployment vote passed, even though there was opposition on the right. The GOP is concerned over deficit spending - and this bill adds $34 billion of that. Still yet, on the other hand there would be millions of Americans with no work that would have no way of paying their mortgages, buying food, or even spending money on the little luxuries of life. Luckily, the majority of Senators realized that in order to fix the economy, we need to stimulate it.
Sources:
Published by Meg G.
Meg G. is a financial professional. During her previous life, she ran a contracting business with her husband. Now, she likes to share late breaking news, financial advice, and do-it-yourself tips with her d... View profile
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8 Comments
Post a Commentgreat more unemployment... what is really going to make people look for work. I have a business and am hiring, it may not be what people want to do but really lets get off your butts and start filling out more applications. Time to roll up your sleeves and go back to basics. So you dont have a desk job or a job that pays as much well guess what swallow your pride ESPECIALLY if you have a family.
Oddly, I have come across a news item that may very well support the claim of oppressive government to blame. Especially considering that the Unemployment extensions would reach up to ossibly $7 + Billion for the quarter.
I had been going on an older estimate for a while, now, from 2003...
(http://www.theppsc.org/forums/showthread.php?t=66) showing that the US government pays up to $15 Billion a year to enforce marijuanna laws...
When actually it turns out that...
(http://www.drugpolicy.org/library/factsheets/economiccons/fact_economic.cfm)
the amount is more to the tune of $40-$42 BILLION ANNUALLY....
now, THAT is oppressive government over the needs of the unemployed.
Huh... Unemployment is 45% in Mi and 75% in Detroit proper.... Hmmmm... What party has RULED Michigan for years???? Ah, yes the same party that controls teachers' unions, bloated government and the party that has control federally now. When will you people WAKE UP? Oppressive government IS THE PROBLEM!!!!!!
s Gardner get your facts straight it is the repulicans who don't want to add the next tier or the $25 a week. Can't you read or are you a victim of no child left behind? In MI the unemployment rate is around 45% and Detroit is 75%. No jobs and no one is hiring you over 45 no matter how many degrees. You cannot even get a job flipping burgers if you don't have experience. Thanks BUSH for f*cking up the economy with your fake war!
I am not worried about tier 5 , I,m living one day at a time, we should all have faith that we will have jobs by nov. I have only my 3rd interview in a year friday morning. things are looking up , don,t give up.
hopefully bu the time november rolls around, there will be a rise in employment opportunities! there is barely any work here in ohio, i am hoping to see more job needs! little by little we will get back in shape! thank you for passing this much needed extension! and thank you obama for pressing the issue!
Good job .. It still has to go through the House, though, although it will pass easily there. Too bad the Democrats rejected all the Republicans' unemployment extensions. They didn't want to take out the $25 a week or end Cobra. Their proposals included those things for us unemployed. And they included ways to pay for the UI extension bill and even the rest of the jobs bill that would have actually reduced the deficit by $68 billion! Doing it the Democrats way is going to make it much harder for to ever pass a Tier 5. :(
it is very sad that these people did not include help for people who are unemploye and waiting for tier 5. november will come and all these people will become 99 weeks whats is going to be happeining next. i m sure they are not going to create 16 million jobs by november. the 99 group needs help badly since they dont know where to turn into to.