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Unemployment Extension June 29, 2010

Written by: Robin John McWell on 30th June 2010 |

Unemployment Extension June 29, 2010 | read this item

Unemployment Extension June 29, 2010 – Ever since the onset of recession in the US, millions of Americans are now hoping for an extension of their Unemployment Benefits. Current unemployment rate in most states are very high and is pegged at 8% on average.

Republicans and Democrats are still on debate as to whether to pass this bill or not. For Republicans, they are against this unemployment bill because it would just add to the budget deficit of the Federal Government since around $33 billion will be spend to fund this bill.

Looking back on the past scenarios, whenever the unemployment rare rose above the crucial level of 7%, the Senate would immediately convene to review the benefits of those unemployed. However, with the recent death of Senator Robert Boyd, the Democrats are now short of 3 votes to finally approve this Unemployment Extension Benefits to finally complete the 60 “yes” votes needed to pass this bill. Only one Democrat is against this bill and that is Ben Nelson of Nebraska.

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Topics: Democrats, Economy, Recession, Republicans, Unemployment