Monday, April 26, 2010

Should the Federal Government Extend Unemployment Benefits Again?

"Up to a million people could find themselves with neither a paycheck nor an unemployment check by year's end, according to preliminary estimates by one advocacy group.

These folks are begging lawmakers to extend the duration of benefits into the triple digits. Scores have emailed CNNMoney.com, detailing their desperation. But there's no movement currently in Congress to add more weeks.

"People will endure extreme hardship," said Andrew Stettner, deputy director of the National Employment Law Project. "We can't just let everyone fall off of this cliff."

But a growing chorus of economists and lawmakers say another extension would be the worst thing for the unemployed. It would likely further delay these Americans' re-entry into the workforce.

"If you are subsidized to stay out of the workforce, many people will," said Alan Reynolds, senior fellow at The Cato Institute, a libertarian think tank."

- CNN Money.com

money.cnn.com/2010/04/23/news/economy/extending_unemployment_benefits/index.htm


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