Senators reach compromise on unemployment insurance (retroactive from Dec 2013)

[JEDI]

http://www.cbsnews.com/news/senators-reach-compromise-on-unemployment-insurance/

5 month extension retroactive from when the last extension expired (dec 2013).

normally I would be against more handouts.

but since its now March and those 2M unemployed have stopped receiving their weekly checks for 3 months, they either:
1)got off their asses and got a job
2) are REALLY TRULY having a hard time finding a job

so the freeloaders wont benefit since they're already employed.
and the unemployed that are really trying to get a job will get a little bit more aid/breathing room.

win/win

unfortunately, it looks like the bill wont make it to the House floor

 

[CPA]

It's not a win/win. What most people don't realize is that many states are having to borrow money from the feds to pay out these extensions, and when the states can't pay back the loans by November 1st, employers in that state lose some of their FUTA credit, which increases costs, which gets passed to customers. Then states get hit with interest on the loans which they pay for by passing special tax assessments, again on the employers. Employers are not going to absorb these costs, they are going to pass them on eventually.

 

[cubby1223]

It's not a win/win. What most people don't realize is that many states are having to borrow money from the feds to pay out these extensions, and when the states can't pay back the loans by November 1st, employers in that state lose some of their FUTA credit, which increases costs, which gets passed to customers. Then states get hit with interest on the loans which they pay for by passing special tax assessments, again on the employers. Employers are not going to absorb these costs, they are going to pass them on eventually.

Quiet! A political party is earning their midterm votes. Nobody cares what happens Nov 1. Free money is being handed out today!

 

[Vic]

Quiet! A political party is earning their midterm votes. Nobody cares what happens Nov 1. Free money is being handed out today!

Unemployment benefits are not free money, it is insurance. Get a clue.

 

[cubby1223]

Unemployment benefits are not free money, it is insurance. Get a clue.

All government handouts are free money. Anyone who disagrees I will vote them out of office, thus solving my problem.

 

[Vic]

All government handouts are free money. Anyone who disagrees I will vote them out of office, thus solving my problem.

It's not a handout either, moron. Workers pay into unemployment out of their paychecks, and can only collect benefits under certain conditions (unemployed through no fault of their own, actively seeking work, etc).
If you got in a car accident, and your insurance company fixed your car, would you call that a handout too?

 

[Londo_Jowo]

It's not a handout either, moron. Workers pay into unemployment out of their paychecks, and can only collect benefits under certain conditions (unemployed through no fault of their own, actively seeking work, etc).

False, unemployment (compensation) insurance is paid by the employer.

 

[Vic]

False, unemployment (compensation) insurance is paid by the employer.

Which amounts to the same thing...

 

[cubby1223]

It's not a handout either, moron. Workers pay into unemployment out of their paychecks, and can only collect benefits under certain conditions (unemployed through no fault of their own, actively seeking work, etc).
If you got in a car accident, and your insurance company fixed your car, would you call that a handout too?

Chill Just having some fun here.

If I got into a car accident I am fully aware there is a finite limit to what the insurance company will pay me in return to fix the car, regardless of the situation. I'm not expecting our lawmakers to step in after the accident and write new legislation saying I am entitled to twice the car's fair market value from the insurance company.

The employed payed into a system with defined benefits under defined conditions, and now the politicians are rewriting the defined benefits & defined conditions and essentially handing out free monies!

It's a time to celebrate! We commoners get more money and we just have more money with no consequences! And the Democrats win more votes in the mid-terms! It's win-win all-around!

 

[Vic]

Chill Just having some fun here.

If I got into a car accident I am fully aware there is a finite limit to what the insurance company will pay me in return to fix the car, regardless of the situation. I'm not expecting our lawmakers to step in after the accident and write new legislation saying I am entitled to twice the car's fair market value from the insurance company.

The employed payed into a system with defined benefits under defined conditions, and now the politicians are rewriting the defined benefits & defined conditions and essentially handing out free monies!

It's a time to celebrate! We commoners get more money and we just have more money with no consequences!

I agree that some of the long term unemployed have been getting benefits for an excessive period of time and that this should be addressed, but it's still not free money.
Plus, this hasn't passed the House yet, nor is it likely to, so there's no celebrating either.

 

[Jhhnn]

I agree that some of the long term unemployed have been getting benefits for an excessive period of time and that this should be addressed, but it's still not free money.
Plus, this hasn't passed the House yet, nor is it likely to, so there's no celebrating either.

Well, yeh, except that finding a job in this economy is a lot like a Cargo Cult for too many people.

Looks like the Job Creators! need to swing into action.

 

[Jhhnn]

Chill Just having some fun here.

If I got into a car accident I am fully aware there is a finite limit to what the insurance company will pay me in return to fix the car, regardless of the situation. I'm not expecting our lawmakers to step in after the accident and write new legislation saying I am entitled to twice the car's fair market value from the insurance company.

The employed payed into a system with defined benefits under defined conditions, and now the politicians are rewriting the defined benefits & defined conditions and essentially handing out free monies!

It's a time to celebrate! We commoners get more money and we just have more money with no consequences! And the Democrats win more votes in the mid-terms! It's win-win all-around!

Nice rant of false equivalency. Bravo!

I'm sure we had the same kind of raving when SS was instituted, too.

 

[Fern]

Unemployment benefits are not free money, it is insurance. Get a clue.

It ceased being insurance quite a while ago.

The state insurance agencies have no money.

Employees don't pay for it anyway.

The UI was meant to last to a certain period. That expired long ago.

UI has been turned into a welfare program. It's just that's it's much more politically palatable to call it "UI" than it is welfare assistance.

Many of these people have been unemployed for years. Until some drastic improvement in the economy happens (it grows like a wildfire) these people have no real prospects of getting a job. UI is meant to temporarily hold you over until you find a replacement job; in that context these payments have lost their intended meaning and don't serve the original purpose. I.e., they're not UI.

Fern

 

[Jhhnn]

It ceased being insurance quite a while ago.

The state insurance agencies have no money.

Employees don't pay for it anyway.

The UI was meant to last to a certain period. That expired long ago.

UI has been turned into a welfare program. It's just that's it's much more politically palatable to call it "UI" than it is welfare assistance.

Many of these people have been unemployed for years. Until some drastic improvement in the economy happens (it grows like a wildfire) these people have no real prospects of getting a job. UI is meant to temporarily hold you over until you find a replacement job; in that context these payments have lost their intended meaning and don't serve the original purpose. I.e., they're not UI.

Fern

So we are experiencing a sustained systemic failure in private sector employment & mutually reinforcing lack of demand, correct?

If we take all the long term unemployed & put them on welfare, as you seem to suggest, will that increase or decrease demand? Or would you disavow that, as well?

 

[Pray To Jesus]

All government handouts are free money. Anyone who disagrees I will vote them out of office, thus solving my problem.

:biggrin: