Unemployment Trust Funds

[Ozoned]

Who says we can't borrow our way out of the Great Obamapression"?
Source of depressing news





"A record 20 million Americans collected unemployment benefits last year, and twenty-six states have run out of funds"

 

[blackangst1]

Obama just signed a bill extending benefits too. The same bill also gives those who use COBRA benefits a 65% subsidy on premiums.

 

[CountZero]

Who says we can't borrow our way out of the Great Obamapression"?
Source of depressing news





"A record 20 million Americans collected unemployment benefits last year, and twenty-six states have run out of funds"

So what is the better solution then? Something like 44% of the currently unemployed have been unemployed for over 6 months.

There's a lot of talk about "don't spend money!" but that is rarely if ever backed up with any kind of helpful solution. The negative impact of not spending the money can be worse than the impact of spending the money, not all spent money is bad.

 

[spidey07]

So what is the better solution then? Something like 44% of the currently unemployed have been unemployed for over 6 months.

There's a lot of talk about "don't spend money!" but that is rarely if ever backed up with any kind of helpful solution. The negative impact of not spending the money can be worse than the impact of spending the money, not all spent money is bad.

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

 

[dmcowen674]

Who says we can't borrow our way out of the Great Obamapression"?
Source of depressing news


"A record 20 million Americans collected unemployment benefits last year, and twenty-six states have run out of funds"

All thanks to Bush

Mission Accomplished

 

[CountZero]

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

Really? I've never seen one. And what quantity is tons, some abuse isn't surprising but is it 1% of those on unemployment or 10%? Any links? I'm curious.

 

[Patranus]

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

Why work when I can get me some Obama money!

 

[EagleKeeper]

Who says we can't borrow our way out of the Great Obamapression"?
Source of depressing news


"A record 20 million Americans collected unemployment benefits last year, and twenty-six states have run out of funds"

All thanks to Bush

Mission Accomplished

Funny that unemployment has gone up under Obama even after throwing free money.

'09 was also under Obama's watch

 

[child of wonder]

I'm really glad I found a job quickly when I was laid off in January. I think I only received 3 weeks of unemployment benefits before I was working again.

I'd also like to see a study saying many people are remaining on unemployment even if offered work. First off, who would admit that in a study? How large was the sample size? What geographical area did it cover? What age group?

 

[piasabird]

Well if you were making say $60,000 per year and they were offered a typical labor job where they have to stand up all day for minimum wage, then I could see them holding out for something better. It could look bad on a resume to take a job outside of your profession for minimum wage. When I worked at a factory and got layed off every year I looked at unemployment as a vacation.

Dont blame anything on past presidents. Either the president should just take responsibility for the here and now or just shut up and resign. Deal with it. Bush didnt ask for 9-11. It just happened right after he took office. Where was the federal reserve when all this was happening? Asleep at the wheel. Generally the Economy does what it does no matter who is in office. Presidents dont sit in office and figure out how to crash the economy and start a depression. Congress controls spending and Congress is responsible for oversight. Where Was Barnie Frank? The Economy is his committee?

 

[werepossum]

Really scary info there.

I'm also taking odds on my theory that Dave has actually been replaced with an annoying bit of code that searches keywords and responds with random strings of anti-conservative/Republican/Bush gibberish . . .

 

[nobodyknows]

Obama just signed a bill extending benefits too. The same bill also gives those who use COBRA benefits a 65% subsidy on premiums.

Why does that upset you?

 

[nobodyknows]

Funny that unemployment has gone up under Obama even after throwing free money.

'09 was also under Obama's watch

And the Great Depression was under FDR's watch. Did he cause it?

 

[soccerballtux]

And the Great Depression was under FDR's watch. Did he cause it?

uh, yeah? lol u fail at history

 

[nobodyknows]

uh, yeah? lol u fail at history

uh, no. You fail at thinking.

Franklin Delano Roosevelt (January 30, 1882 – April 12, 1945; pronounced /ˈroʊzəvɛlt/ ROE-zə-velt) was the 32nd President of the United States and a central figure in world events during the mid-20th century, leading the United States during a time of worldwide economic crisis and world war. The only American president elected to more than two terms, he was often referred to by his initials, FDR. Roosevelt won his first of four presidential elections in 1932, while the United States was in the depths of the Great Depression. FDR's combination of optimism and economic activism is often credited with keeping the country's economic crisis from developing into a political crisis. He led the United States through most of World War II, and died in office of a cerebral hemorrhage shortly before the war ended.

http://en.wikipedia.org/wiki/Franklin_D._Roosevelt

 

[WhipperSnapper]

Who says we can't borrow our way out of the Great Obamapression"?
Source of depressing news

How is this all Obama's fault? Since things really went downhill on Bush's watch, wouldn't it be more accurate to call it a Bushcession?

 

[WhipperSnapper]

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

What kind of work are you talking about? To hear you tell it, jobs are abundant. Those news reports about thousands of people applying for poverty wage Walmart jobs, etc., are all bogus, right?

 

[Blackjack200]

Who says we can't borrow our way out of the Great Obamapression"?

Why not? We borrowed our way into two wars overseas.

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

Really? I've never seen one. And what quantity is tons, some abuse isn't surprising but is it 1% of those on unemployment or 10%? Any links? I'm curious.

Well, it's a legitimate criticism. My neighbor just lost his job, and asked me if I could get him an interview at my company. I got him one right away and he said it was too soon, he wanted to enjoy some unemployment first. That being said, every time we post a job, we get flooded with resumes, there are obviously a lot of people competing for jobs. I don't think it will hurt anything to continue providing unemployment until the labor market starts to tighten a little.

Funny that unemployment has gone up under Obama even after throwing free money.

'09 was also under Obama's watch

Pathetic. You fail even at being a demagogue.

http://en.wikipedia.org/wiki/Economic_indicator

 

[CountZero]

Well, it's a legitimate criticism. My neighbor just lost his job, and asked me if I could get him an interview at my company. I got him one right away and he said it was too soon, he wanted to enjoy some unemployment first. That being said, every time we post a job, we get flooded with resumes, there are obviously a lot of people competing for jobs. I don't think it will hurt anything to continue providing unemployment until the labor market starts to tighten a little.

I think it is a legitimate concern and I'm serious that if there are actual reports I'd very much so like to read them. With the number of people unemployed right now I'd be surprised if the number of people that have turned down jobs in order to continue milking benefits was terribly significant, but again I'd rather see numbers than guess. Spidey says there have been reports but hasn't come back to post them.

And I do agree, once things have turned around enough (whatever enough is) then the extensions just need to end. Some 'innocent' folks will get caught off guard but we can't extend things indefinitely.

 

[blackangst1]

Originally Posted by blackangst1
Obama just signed a bill extending benefits too. The same bill also gives those who use COBRA benefits a 65% subsidy on premiums.

Why does that upset you?

Where did I say it did? Looks like you pinned a phantom in a corner.

 

[mykol1010]

There have been tons of reports that say people staying on unemployment are doing so because it's there and being extended. They have no need or desire to find work because there is no motivation to do so when they can sit at home.

Some anecdotal observations:
I know 3 people who have been on unemployment (2 for a year+) who have no desire to look for jobs. 2 are single and 1 is married.

 

[Theb]

Some anecdotal observations:
I know 3 people who have been on unemployment (2 for a year+) who have no desire to look for jobs. 2 are single and 1 is married.

More anecdotes. I know two people who were out of work, one of them needed one extension on his unemployment, but he's back to work now. He desperately needed the unemployment or his family would've lost their home. The other guy is married to a nurse. With unemployment plus not having to pay for babysitting and gas he's essentially lost no income and gained lots of free time. He's been doing some contracting on the side and it's picking up speed, but he's not sure what to do. Going legit as a contractor is a little risky, unemployment is guaranteed free income.

 

[soccerballtux]

uh, yeah? lol u fail at history

uh, no. You fail at thinking.



http://en.wikipedia.org/wiki/Franklin_D._Roosevelt

to fail at something one must have been trying to do it in the first place.

 

[paperfist]

Why does that upset you?

It's scary to me because states are now going to up the UI rate that employers are forced to pay no matter if they fired anyone or not. When all the business have to pay higher rates to cover extended unemployment benefits that means less money to keep employees working or new ones from being hired.

Notice the unending circle effect here? This is becoming another form of welfare or if you are cynical a way to advance an agenda.

 

[Rainsford]

The phrase "trust fund" here seems misplaced...although I can see why conservatives would start trying to use it. Unlike a trust fund, unemployment ISN'T going to be enough to never have to worry about money again. I know people who have received unemployment benefits, and they hardly ever replace an actual salary.

There is plenty of incentive to get a job. Unless of course you're a rich kid with an ACTUAL trust fund.