Skip to comments.Loss of jobless aid leaves many with bleak options
Posted on 01/12/2014 9:00:44 AM PST by Olog-hai
A cutoff of benefits for the long-term unemployed has left more than 1.3 million Americans with a stressful decision:
Without their unemployment checks, many will abandon what had been a futile search and will no longer look for a joban exodus that could dwarf the 347,000 Americans who stopped seeking work in December. Beneficiaries have been required to look for work to receive unemployment checks.
Some who lost their benefits say theyll begin an early and unplanned retirement. Others will pile on debt to pay for school and an eventual second career. Many will likely lean on family, friends, and other government programs to get by.
(Excerpt) Read more at hosted.ap.org ...
Bring back American manufacturing.
Stop sending your money to China.
This is no problem for the 0bama Administration, for if 1.3 million workers leave the work force, the unemployment rate will fall from 6.7 to about 6.4, right where the Fed wants it to be before QE tapering begins in earnest. Then, all interest rates will rise and the banks make trillions on the national debt that has to be serviced.
Well, they should’ve been “Fiscally Responsible” by saving & investing no matter what so they wouldn’t be in this situation!!!
I did. I retired early & am doing fine...............
To hear the media and Dems tell it, the economy is roaring like gangbusters. The unemployment percentage has dropped to 6.7%.
So, which is the lie?
You’ve got it all figured out, don’t you?
Didn’t you get the memo about Skittle-pooping Unicorns and that the sky is filled with Rainbows these days and all is well?
You nailed it. That’s EXACTLY what’s going to happen. Exactly.
Left with the bleak option of getting up off their duff and actually getting a job and going to work at perhaps a lower level of pay. That’s life in a recessive economy.
How about we line up union members against the wall for starters?
“This is no problem for the 0bama Administration,”
Exactly. The more people on the government dole the better. And that is really what this is all about. A guaranteed Democrat constituency.
Put them to work filling pot holes in their community for the same amount they have been receiving. How many takers?
For most of my life, if someone didn’t have a job, it was because they really weren’t trying hard enough to get one.
Now, thanks to all these trade deals and liberal policies, we’re getting to a point where someone could have extreme difficulty finding a job capable of supporting a family, no matter their experience or education.
I’m not a “living wage” proponent, or advocating government to do anything but stop taxing and regulating the hell out of us, and stop these damned trade agreements that ship our jobs off to other continents.
All of these things are stacking up, causing the people who should be having kids not to, and the ones who shouldn’t be having kids are reproducing like wildfire.
With all the illegals we are importing, and jobs we are exporting, we’re rocketing towards being a third-world country. Some parts of the U.S. already are.
You are 100% right in that.
The problem is, the GOP is no better.
Both our parties, are selling out.
GOP wake up, and bring back American jobs. Use import duties, or any other tactic, but America needs jobs right here in America.
Everyone stop selling out.
(Grr. Sorry but it’s frustrating)
Nobody is on Americans’ side anymore. Both parties are sold out.
The rats are decimating the middle class and have already crossed the rubicon. With millions leaving the work force, the rats will claim unemployment is dropping and say the economy is getting better.
The media will jump on that, the rats will run on that and they will hold the senate in 2014.
All in time for Hillary.
because a billion unemployed Chinese and a Chinese govt that can’t or won’t buy US debt is not our problem...
Would a rise in interest rate apply the current debt or would it only apply to future moneys borrowed?
I'm asking because I don't know.
Where was the computer you're tying on made?
That line about abandoning their job search because unemployment checks are no longer coming in makes absolutely no sense. Unless these people want to starve or something.
If looks could kill, all ten MSNBC viewers would be dead from the look on Mika Brzezinski's face.
Well the last I heard the unemployment rate in China is 4.1%, significantly better than America’s.
There was a time when China was a good idea.
In my opinion that time is over.
China is becoming far too strong, and far too big a competitor, to continue to help.
America needs to recognize that things change. China owns all the factories in China. All of them.
Even those, producing for America.
Everything made in China, is bottom line, for Chinese owners. There is some western ownership, but the majority ownership is all Chinese.
China is now the largest exporter anywhere.
The world leader.
Wake up people. We have a serious challenge to our nation’s supremacy facing us right now.
America needs factories.
And what’s going to happen in 3 months, and 3 months after that.....
That doesn't surprise me at all, LVR, since our government doesn't really know what financial obligations have to be serviced either.
You see, we have an official national debt of $17T, but unfunded liabilities, such as government-service employee pensions, Medicaid debt, Social Security and other social services now total an estimated $93T. So 17 + 93 = $110T (estimated). I've also seen estimates twice that large.
But to answer your question, as financial instruments come up for renewal, the new interest rate applies, in almost all instances.
Only future borrowing. The Treasury has also tried to issue more longer term debt so the average maturity is over 5 years now.
A lot of these people were not seriously looking for a job, they were going through the motions just to qualify for benefits. Doesn’t mean that there are jobs out there for them.
No, “transitional living funds”.
I just outlined the first steps towards doing that. None of the liberals in DC want to budge on that issue.
We could lower the corporate tax rate which is the highest rate in the world. We could stop in the insane money printing which suppresses the willingness to risk money on new job creation. That would be more than enough, but I would also slash regulations and scrap the current tax code.
Looking on the bright side, China is now quite a good market for upscale goods. I have been selling quite a few collectibles there (bit of a hobby of mine). These days they (mainly through HongKong) are my main customers. I think they are ready to be a decent market for quality consumer goods, like Japan.
That's pretty much what I thought too, but I'm sure the crooks would have something of an exception carved out.
17 trillion at 4% would about destroy us....of course maybe that's the plan.
On unfunded liabilities though I've read anywhere from 100 - 220 trillion, no one really seems to know.
Thanks for your reply.
I am not speaking to liberals.
It was already correctly identified in this thread, that democrats have a vested interest in not fully employing Americans.
America running high unemployment, causes needy people. Democrats thrive on needy people.
Who I am speaking to are conservatives. Sure there was a huge amount of money to be made in sending American jobs to China, but China is not America.
China is a strategic competitor to America.
The largest nation on earth, in population.
We need to stop building China into an ever-stronger competitor.
China has five times the population of America.
Conservatives need to say enough, and start to dis-invest from China. Bring your money back home.
For over an entire generation Americans have built up the rest of the world.
It is time to start to bring all of that money back home.
Democrats are not helping America.
The job is left for Republicans.
So Republicans. STAND UP.
Build up America.
I see the sob sisters are out in force at AP.
-— A lot of these people were not seriously looking for a job, they were going through the motions just to qualify for benefits -—
I got laid off from a major company in 2009. Occasionally I look up my former colleagues on Linked In. Most are “consulting.” Few have found full-time jobs.
Almost five years later.
I’ve bounced around doing contract work.
It’s a real party out here.
Yeah, with “more handouts” as the solution rather than abandoning the socialist race to the bottom.
Buyers can be fooled into thinking a home is worth $500,000 if artificially low interest rates make it easier to afford monthly mortgage payments. That isn't going to last forever.
It's not going to happen and the unions and our government have seen to that. There is no way that companies like Apple or Google are going to build their smartphones and tablets here in the United States where they have to deal with pinky-ringed union thugs and a government that will be hell-bent on legislating and litigating them out of business under a blizzard of regulations and lawsuits.
Those factories you speak of are gone forever. They are never coming back, at least until robotics advance enough where humans are no longer required to work in them.
The blue-collar factories jobs are officially extinct and they only exist in Bruce Springsteen songs and in PBS documentaries. No more Laverne & Shirley stamping caps on beer bottles in Milwaukee. No more, no more.
These days, you get a white collar job or a job in the service industry. You don't necessary need to work in Walmart or at a McDonalds but you can still get a plumbing or electrician license and make a decent living in the trades if blue-collar work really appeals to you.
Forget about the factories though. They are NEVER coming back.
-— China is a strategic competitor to America. -—
The economy is not a zero sum game. We can all be prosperous.
Just because we’re economically suicidal doesn’t mean that we should try to drag other economies down.
Yes, its bad.
Full time non-contract career positions are very scarce across many industries.
However, there are indeed good paying jobs going begging.
Qualified electric linemen are very hard to find.
17 trillion dollars in US debt.
And growing fast.
Bring back American manufacturing.
There’s no alternative to not bringing them back. National security depends on it (that’s why countries like Russia, Germany, Red China et al hold on to their manufacturing sectors with vehemence). They don’t come back, kiss the country goodbye.
(Of course, their absence can be interpreted as a curse.)
Josh and Sam, how hard do you try to be so stupid?
No, Bush’s wars did NOT cause the unemployment.
The $4T stimulus which you should be researching WHERE IT DISAPPEARED TO is what caused it.
What about researching what those who QUIT looking for a job causing the U6 number to hit something like 13-15% are doing now...
Research how EPA tyrannical regulations cause job loss and companies to go out of business.
Research how the DOE via 0bummer, your dictator hero caused the Keystone Pipeline to not be built and thus cause job loss.
Research how our coal is all going overseas...
Research how journalists are the stupidest people on earth.
“A lot of these people were not seriously looking for a job, they were going through the motions just to qualify for benefits.”
Why look for a job when you can play golf and write down companies you applied for by e-mail? One interview in a day is enough for them. Eventually they’ll be applying for Medicaid and EBT’s anyway so these lazy leeches will still be on the govt dole..
many will abandon what had been a futile search and will no longer look for a jobThat will improve the unemployment rate report. Instead of 6 of 7% unemployment, maybe the government will be able report an improvement to 3 or 4%, which is generally held to be "full employment."
AP treats the mass abandonment as bad news, when by its own reporting, etc., the net result is good news.
Put them to work filling pot holes in their community for the same amount they have been receiving.”
It has long been my contention that everyone on unemployment or any kind of government benefits should be required to work to offset the income they are receiving. There are plenty of tasks which can be done by the unemployed. Painting, washing windows and cleaning of government buildings, maintaining green areas within a city, repair of homes for the elderly, picking up trash, maintaining their own section 8 housing, etc. No work should equal no benefits.
Read several months ago about a city tearing out their flower beds because they couldn’t afford to pay anyone to maintain them. I would guess that there are lots of people in that city on the dole. Put them to work. This is B.S.
Would Mexico take them? They could then return doing the jobs Americans won’t do.
Robots will work 24/7 and won't go out on disability because they had a screw come loose.
Without their unemployment checks, many will abandon what had been a futile search and will no longer look for a job
If the economy is so great and the ‘record-low’ unemployment rate is the indicator of this, they’ll have no problem getting other jobs. The economy is awesome, we’ve been told.
If the economy is awesome and unemployment is low, there’s no need to extend unemployment benefits. Seems like it would be a contradiction to extend benefits in such a roaring economy.
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