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Cost of federal unemployment benefits so far: $434 billion
| By Tami Luhby
Posted on 12/05/2011 3:31:14 AM PST by tobyhill
Jobless Americans have collected $434 billion in unemployment benefits over the past four years.
Taxpayers have footed $184.7 billion of the tab incurred during the federal government's unparalleled response to the Great Recession, according to Labor Department data. State and federal taxes on employers cover the rest.
The cost of continuing this safety net will be the subject of intense debate in Congress in coming weeks as lawmakers decide whether to extend the deadline to file for federal benefits beyond year's end. Keeping this lifeline in place through 2012 would cost $44 billion.
Here's how the system works: The jobless collect up to 26 weeks of state benefits before shifting to the federal program. Federal benefits consist of up to 53 weeks of emergency compensation, which is divided into four tiers, and up to another 20 weeks of extended benefits.
Those who reach the end of their state benefits or federal tier will not be able to apply for additional benefits unless the deadline to file is extended.
(Excerpt) Read more at money.cnn.com ...
TOPICS: Extended News; News/Current Events
posted on 12/05/2011 3:31:16 AM PST
The “Safety Net” has turned into a HAMMOCK!
posted on 12/05/2011 4:18:40 AM PST
(Another Bitter-Clinger! God-Family-Tribe)
Handing out checks to these people for YEARS is not a “safety net” - it is welfare.
posted on 12/05/2011 6:11:40 AM PST
And ... illegal aliens have cost net $1 - $1.3 Trillion, while low skill legal immigrants have cost net $20,000 per household per year. All while per PEW 8 million illegals have jobs and 125,000 new legal workers are brought in per month.
posted on 12/05/2011 7:04:40 AM PST
(He who pays the piper . . .)
Shouldn't let them hide behind the "Great Recession" term. I prefer the "Great Depressing" to show it is intentional, as Rush often states. It started about the time Obama came to DC and blame should be linked to that marker. The Democrats were running Congress and W was just going along with their games.
posted on 12/05/2011 11:31:55 AM PST
(Obama been Liberal. Hope Change!)
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