Unemployment Benefits Extentions Beyond 2011 10% Unemployment Projected For Two Years
Washington, DC – The national unemployment rate will virtually guarantee extended benefits will be required for the foreseeable future. Government Projections have unemployment over 10% thru a minimum of September 2011.
Many are noting that the Obama Administration passed the Stimulus Package specifically to combat unemployment without the intended results:
For example, the Obama administration sold the stimulus legislation with an assurance that its passage would prevent unemployment from exceeding 8 percent. The national rate is now at 10 percent, as a consequence of which, the stimulus package will have to shell out another $21 billion in unemployment compensation for 2009 and 2010 alone. Worse yet, the CBO doesn’t expect the unemployment rate to return to the 5 percent level associated with a strong economy until 2016.
Read More: www.telegram.com/article/20100128/NEWS/1280653/1020
Particularly dire is the unemployment situation in California. Currently the statewide unemployment rate stands at 12.5%, a full 25% above the national unemployment rate. Extending benefits is seen as an absolute must in order to keep social order.
Read More: online.wsj.com/article/SB10001424052748704762904575025823767385834.html?mod=WSJ_hp_editorsPicks
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