Congressional Budget Office released its analysis of the bill proposed to extend long-term unemployment compensation for another three months. Bottom line, CBO says it will increase deficits by about $6.4 billion.
S. 1845 would extend the Emergency Unemployment Compensation (EUC) program for three months—through March 31, 2014. The EUC program allows qualified states to provide up to 47 additional weeks of federally funded unemployment compensation to people who have exhausted their regular unemployment benefits.
Heckuva bargain. Let’s do it. Call your Member of the House of Representatives, tell her or him to pass this law.
Payments to people who need money tend to put them to work, boost the economy, and make later aid unnecessary. But who listens to economists or historians any more?
- 25,000 in Washington to lose unemployment benefits (yakimaherald.com)
- State working to fix unemployment compensation benefit issue (goerie.com)
- CBO: Extending Unemployment Benefits Would Help Economy (talkingpointsmemo.com)
- Compensation for long-term unemployed to end this month (kansas.com)
- Thousands of Alaskans to Lose Unemployment Benefits Saturday (alaskapublic.org)
- Without Unemployment Extension, Which States Would Be Hit Hardest? (blogs.wsj.com)
- Almost 12,000 in Alabama to lose extended unemployment benefits Jan. 1 (al.com)