Unemployment money running out!

An Associated Press writer working for "NEWSER," yesterday commented upon the labor situation.

He indicated 14.7 million are unemployed now and 9.0 million more are what is called under-employed---working for much less than before the recession.

By Seeptember, 540,000 of the unemployed will have their benefits run out after the regular 26 weeks plus 53 weeks paid by the federal government.
It is anticipated that 1.5 million will have their benefits gone by year's end!

On top of that, it is a sure thing that bad inflation will soon be very noticeable due to all the Federal Reserve printed money, and the huge debt built up under the last administration, also.

In my opinion that situation isn't about to get any better for years yet.

The President and Congress may have trouble adding to the budget expenditures by borrowing. Who will loan it to us--our citizens can't buy many more bonds either.

What I want you to think about (this has nothing to do with the AP writer) is what will happen when the 3-400 dollars per week unemployment runs out totally? I'm sure congress will extend a little more but it has an end soon.

Already we have high-wage earners bagging groceries and flipping burgers and doing unskilled labor.
There are only so many of those jobs either!
Millions of jobs aren't going to suddenly pop-up somewhere over the next few years!

Additionally, with the exception of New York money changers, most workers will not get a raise, ever. Even reductions in pay will occur.

Shouldn't we do something quickly?
No one seems to want to spend more money to do it. We just had such an enormous debt for everything it is unmanageable.

Possibly localities could take care of their own? Could we here in PTC for example, feed and shelter those with nothing? What about running the hospital? there will be more needs there that may not be funded.

If you know how to find millions of jobs soon, let's hear it!

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suggarfoot's picture
Submitted by suggarfoot on Sat, 07/25/2009 - 5:15am.

garbage the politicans have halked at the behest of big corporations. Customer service jobs going to India? of all places. Who has ever heard of Indians being known for their compasion or understanding? We have let the the illegals come here and drag our money over the borders by the carloads, never to come back. While they were here, we have paid their medical bills, and given them many kinds of welfare and educated their kids.

All this going out...and noting coming in...had to have an effect sometime, and that time is now.

When jobs are shipped overseas, the only ones that reap the rewards are the coporate ceos. The American worker is then warned if he won't work for less, his job can be taken over seas.

I am often reminded of the words of Ross Puroe talking about NAFTA...he said "if you let the politicans pass it, all you are gonna hear is a great big sucking sound, that sound will be jobs and money going over the boarders, never to come back". He was so right.

Submitted by Bonkers on Sat, 07/25/2009 - 6:46am.

Yes, you are correct about us losing manufacturing here.
However, consider that TVs would cost $5,000 not $1500 if we made them!
The only way out of that is to charge heavily for what we ship out that other countries need so we can pay for those $5,000 TVs!

suggarfoot's picture
Submitted by suggarfoot on Sat, 07/25/2009 - 5:31am.

on imports, that was to protect American jobs. All those have been done away with.

You are watching the wealth of the country going overseas for good. We are going to see a depression in this country unequal to anything before if something isn't done.

Obama had a good idea, trying to help the homeowners with the affordability program. The only problem with that is he...gave...the money to the crooks who had jacked up the interest rates in the 1st place. The average homeowner will never see a dime of help out of that money. The banks now have it and they are..NOT.. going to give people lower rates. They are gonna keep the money and suck the homeowners dry.

I would have thought the government would have put their foot on the morguage companies necks by now, but they haven't. Under the last administration, they deregulated the banks and let them charge rediculous rates on credit cards

Bush helped all his little friends get rich off the backs of the working poor, the very last group that needed to be exploited.

If some of that money was given to people in the form of lower interest rates on their houses, those same working poor, would have money to buy things they need and it would help us come out of this some. Do you realise the difference in someone's house note at 8% as opposed to 4.5%? What a difference it would have made it there had been some honesty in this program alone!

Submitted by Bonkers on Fri, 07/24/2009 - 8:03pm.

There are right now syndicates buying up foreclosed homes from banks and the government with the hopes of selling them to people using government money.
They will pay about 50% or less of the former value and hold and repair as needed until they can be sold. Doesn't that mean not much NEW construction for a long, long time?
It will provide a few jobs fighting off home destroyers!

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