Unemployment Extension Legislation Passes Senate
As the day wore on, it became apparent that a much watched unemployment bill in Washington had enough votes to pass the senate. The markets, anticipating this news, have been up all afternoon and Sirius XM participated. Earlier today it was announced that unemployment rolls are down, but the deeper news is that many have exhausted their benefits and are no longer counted as unemployed. With this new legislation, if signed, some 2.5 million who have had their benefits lapse will once again be on the unemployment rolls. Currently the nation has an unemployment rate of 9.5% (excluding those that are no longer receiving benefits). The numbers are indeed staggering. Some have been unemployed for over two years, and have simply decided not to seek employment. The legislation passed by a 60 to 40 vote.
As people debate the health of the economy, there is still the unavoidable fact that a large percentage of the population is unemployed. With the potential return of benefits to many who are unemployed, the gears of the economy might be able to get back on track. There is even discussion that the benefits could be retroactive. This will line the pockets with much needed cash for those who have spent the last months trying to figure out how to buy the groceries.
If nothing else, the pure numbers of people without work is an indication that the economy has a long way to go before an official recovery can be announced. That being said, the restored benefits should at least help people out while the march to recovery trudges along.
We will never forgot the Republicans and what they are doing to the unemployed Americans. Come November they had better start looking in the jobs adds. The Senate is a disgrace to this nation. Why are the born again fiscal responsible Republicans want to pay a $678 “tax break” to the 2% of the richest Americans without paying for it.
I am glad this emergency bill was a last past, no thanks to the born again fiscal responsible Republicans.
you are an idiot. republicans said they would vote for an extension if democrats put it under the 3 trillion a year budget we already have. which would be easy if democrats wernt trying to push 3 other damaging bills with it! brush up on your polotics! watching cnn isn’t being informed… bhaahaa
I totally agree “atlasfreed”. That’s what happens when you don’t properly inform yourself. Try listening to FoxNews Dan Dare for a change.
The info that the auto industry in July was coming in at a 12 million SAAR may have helped Sirius earlier.
Agreed, auto news was helpful. The overall markets saw the uptick on unemployment and SIRI participated. The piece was more about general news and not intended as a reason for SIRI being up.
So, does this mean that, if our unemployment benefits have stopped we will be able to get back on them?
So what’s your point. There is nothing new here that relates to siri. More of the same. Tell us something we don’t know.
Dan Dare,
Do you even listen to the news. Do you even try to have the facts before you post?
The facts are that its the Democrats that are playing you. They want to use NEW money to fund the extension and the Republicans want to use the money thats ALREADY THERE in the stimulus package.
The Democratic leaders know that liberals are easily brainwashed and thus, they played this little game because they knew idiots, such as yourself, would blame the Republicans.
You’re ridiculous dude. Why do you feel the need to resort to name calling. I mean nothing says intelligence like someone who can’t talk without insulting someone. The fact is, that both parties have blocked each others bills to try to get an extension passed. I am not going to get into who’s worse, because they are so busy arguing with each other, that they are getting nothing done, and we suffer due to both parties childish behavior. You’re just another example of childish name calling, and trying to say it’s someone else’s fault. They both put a bill forward, then argued while we all suffered, and now you come on here to start calling Democrats names. You’ll fit right in at the next political event.
Brad,
The way I understand it is that Extended Benefits (weeks 27 through 99) were no longer available after early June because the republicans decided to play political football with extended benefits and the lives of the poor and their families this time. Now whichever hard working Americans that haven’t exhausted all their benefits that millions of others have already gotten can get their benefits restored retroactively . And YES the republicans played political football with working peoples lives and their families traditionally and even twice under the Bush administration and a republican controlled congress (while they were adding trillions upon trillions to the national debt) Extended Benefits were added as emergency spending , as long as unemployment was above 7.2% .
USA ,
You are correct sir people have been played .
Shirley Sherrod
Father murdered by the KKK .
Her career and reputation assassinated by Faux News and the tea baggers .
http://www.thenation.com/blog/.....ng-scandal
Talk about being PALYED !!!
Thank you Eduardo, for the answer. I think I am still a little confused though. So, if I have drawn unemployment, for over 99 weeks, then I am no longer eligible for benefits. Correct? I don’t think I have though. Also, when you say retroactively. Does that mean one big check, for the missing weeks? Or just that the benefits will start again, and we get checks until the 99 week period is up. They are really making me confused with all this back, and forth bullcrap. Thanks, for trying to help me out.
Brad ,
Sorry if i wasn’t clear , and you have to check with your states unemployment office or labor and industry council (whichever applies) also to make sure as soon as it is passed and signed into law . But here is my understanding and i believe that it is accurate since I have followed this debate and bill for months now . For some reason this is very interesting to me , myself I turn 50 this week and have been retired since I am 40 solely an investor now (not eligible for a dime LOL , Sirius Long )that was my disclosure .
If you have not drawn all your 99 weeks you will again be eligible , retroactively means you will receive all the weeks from this past early June end date till present (assuming of course that you have filed all those claims between now and then) if you have not filed all those claim forms you will probably have to reopen your existing claim and you will not get paid the missed weeks just start off were you left off .
Now whether you receive them all at once or in a short time span depends on the model your state chooses to pay them in . They can choose from between dispensing the checks due you and everyone else on a claim by claim basis that means that you will receive all the checks but they will come in as they process them i9ndividually and with the backlog it could take a week or so for them to get through the backlog . Or they could do it on an entire persons total claims in which case they would round up all the submitted claims for each person check them for validity and then dispense the monies in one lump sum to each person as they complete and bring each person up to date .
The key part IMO is that all the people that have been without benefits since early June continued to file their claims .
And last but not least if you have drawn all your 99 weeks you will have nothing and will have all the republican senators and one Dem senator Nelson (Neb) to thank for it since this bill originally had a tier 5 that would have extended the people that have drawn their 99 weeks (called the 99ers). But thanks to the rep senators and Nelson it had to be pulled out of the bill to get two reps ( Snowe and Collins both of the great state of Maine) to go along with the dems . Also state aid money so states wouldn’t have to lay off teachers , firefighters and police and tax breaks and hiring incentives to hire the unemployed for small businesses had to be stripped just to get those two crucial rep votes (Snowe and Collins). So you see it was a minor win but if reps actually gave a crap about working people this bill would have been much , much better .
And here is the biggest kick in the ass while the reps insisted that this 33 billion dollar bill be paid for BEFORE passed . They are campaigning to extend the Bush tax cuts (that by the way were never paid for) that already cost us almost 900 billion and will cost us over a trillion over the next 10 years . Wait for it …………..
Without Paying For It !!!
Good luck to you Brad hope this helped !
Yes, that cleared things way up. I appreciate you taking the time out of your day to explain this to me so well. I try to follow it, but I just can’t get that much info. out of it. I don’t know who to believe in the news. Your explanation is very accurate it sounds like. I am in a better spot than a lot of people I suppose, because I broke my neck at work in 2000, so I get SSDI checks every month. I was also getting unemployment, but that has since stopped. My attorney has been trying to get me my pension, for years now. This whole thing is going to make that even more difficult, because of all the folks that are going to try to get on disability due to unemployment running out. I am in a good place though, because the Federal Gov’t has already determined me to be completely disabled. At the state level, it is suppose to be less difficult. So, they don’t really have a case at this point according to my attorney. Thanks again for your time. By the way, that’s amazing; retired at 40. I am going to be 43 next week. Well, I guess I am retired too, but for a whole different set of reasons.LOL
Take care,
Brad
Brad ,
Sorry to hear about your physical problems . See this is exactly the type of case that these small government Tea Bagging pull yourself up from your bootstraps people don’t understand nor care to look at . These programs are safety nets for people that are less fortunate . Did you want to break your neck and be unable to work for years or possibly the rest of your life ? I would bet that answer would be a resounding NO !! I bet that 99.9% or the people that are laid off would MUCH rather never had lost their jobs in the first place also . Thank God , probably more accurate Thank Democrats that there are programs like unemployment and disability to help people in their times of need ! As you just saw in this unemployment battle if it were up to the reps there would be nothing . Yes they are OK with spending when things are going good . But usually when spending has to be ramped up is because things are already bad and the economic pump needs a primer !
At any rate my friend I wish you the best if ever you need or want to communicate with me personally you can reach me at ([email protected])take care and may your investments skyrocket and your checks flow like wine at a Ted Kennedy open bar event !!!