The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.
The president is expected to sign the bill this afternoon.
Isn't this wonderful news? Read the rest of this article here.
As I have commented on a variety of websites, the presentation of this bill is still partly misleading, even in news stories written today. "The measure would ... renew jobless benefits for the long-term unemployed ..."
It will, but only for some of them. They still don't get it! Maybe they don't want to.
Obama talks about extending unemployment benefits for 13 months for those who need it the most. But that is not really true. He is basically allowing existing extensions to continue. He is leaving the so-called 99ers in the dark. By not creating a tier 5, millions of the long-time unemployed will have their small lifeline cut off, while the unemployment rate is still well above average: nearly 10 percent! I wonder how many poor souls out there believe they will continue to get their weekly payments for another year, only to eventually learn their benefits are actually kaput.
Read this: "Unemployment in the Silver State [Nevada] rose from 14.2 percent in October to 14.3 percent in November, the state Department of Employment, Training & Rehabilitation said this morning. Joblessness in Las Vegas went from 14.1 percent to 14.3 percent. ... Unemployment nationwide came in at 9.8 percent in November."
Here's another article, headlined: House passes 13-month unemployment extension; 99ers and Tier 5 ignored again. I can't even read it....
UPDATE:
Payrolls Drop in 28 U.S. States, Joblessness Rises in 21 in Labor Setback -- Bloomberg
UPDATE:
Payrolls Drop in 28 U.S. States, Joblessness Rises in 21 in Labor Setback -- Bloomberg
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