230k more unemployed will loose their benefits Saturday

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The unemployed are screwed. On Saturday – more than 230,000 jobless Americans will see their unemployment benefits disappear thanks to trickle-down austerity measures passed by Congress earlier this year.

That’s an estimate coming from the National Employment Law Project – which cites a new formula passed by Congress this year for calculating unemployment benefits that will lead to hundreds of thousands of Americans in states like California, Florida, Illinois, Pennsylvania, and Texas getting kicked out of the program when they need it most.

This is the cost of compromising with Republicans who’ve held hostage unemployed Americans to advance their 1% agenda for more than a year now.

Thom Hartmann Administrator's picture
Thom Hartmann A...
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Comments

Isn't it sad that no one will admit they don't have an answer for solid job creation? With Europe heading for recession and China slowing-time for a tornado warning. The Great Bank Robbery was successful and without any clawback of the stolen money-the economies for the 99% will be struggling for years.

lovecraft
Joined:
May. 8, 2012 12:06 pm

Abbott and Costello: Unemployment Explained

COSTELLO: I want to talk about the unemployment rate in America .

ABBOTT: Good Subject. Terrible Times. It's 9%.

COSTELLO: That many people are out of work?

ABBOTT: No, that's 16%.

COSTELLO: You just said 9%.

ABBOTT: 9% Unemployed.

COSTELLO: Right 9% out of work.

ABBOTT: No, that's 16%.

COSTELLO: Okay, so it's 16% unemployed.

ABBOTT: No, that's 9%...

COSTELLO: WAIT A MINUTE. Is it 9% or 16%?

ABBOTT: 9% are unemployed. 16% are out of work.

COSTELLO: IF you are out of work you are unemployed.

ABBOTT: No, you can't count the "Out of Work" as the unemployed. You have to look for work to be unemployed.

COSTELLO: BUT THEY ARE OUT OF WORK!!!

ABBOTT: No, you miss my point.

COSTELLO: What point?

ABBOTT: Someone who doesn't look for work, can't be counted with those who look for work. It wouldn't be fair.

COSTELLO: To who?

ABBOTT: The unemployed.

COSTELLO: But they are ALL out of work.

ABBOTT: No, the unemployed are actively looking for work... Those who are out of work stopped looking. They gave up. And, if you give up, you are no longer in the ranks of the unemployed.

COSTELLO: So if you're off the unemployment roles, that would count as less unemployment?

ABBOTT: Unemployment would go down. Absolutely!

COSTELLO: The unemployment just goes down because you don't look for work?

ABBOTT: Absolutely it goes down. That's how you get to 9%. Otherwise, it would be 16%. You don't want to read about 16% unemployment do ya?

COSTELLO: That would be frightening.

ABBOTT: Absolutely.

COSTELLO: Wait, I got a question for you. That means there are two ways to bring down the unemployment number?

ABBOTT: Two ways is correct.

COSTELLO: Unemployment can go down if someone gets a job?

ABBOTT: Correct.

COSTELLO: And unemployment can also go down if you stop looking for a job?

ABBOTT: Bingo.

COSTELLO: So there are two ways to bring unemployment down, and the easier of the two is to just stop looking for work.

ABBOTT: Now you're thinking like an economist.

COSTELLO: I don't even know what the hell I just said!

And now you know why Obama's unemployment figures are improving
!

antikakistocrat's picture
antikakistocrat
Joined:
Apr. 18, 2012 3:41 pm

I suppose the theory is.....take more money out of the economy so people will buy more, thus encouraging business to invest and hire to fullfill the increased demand from lowered purchasing power in the economy...

Or, as world class economist Michael Hudson noted, "the economic language has been turned into double think."

Retired Monk - "Ideology is a disease"

polycarp2
Joined:
Jul. 31, 2007 4:01 pm

Hey America could be were ICELAND is today had we voted for Chuck Baldwin of the Constitution Party back in 2008.

http://www.youtube.com/watch?v=wn6LuqbqTMc

antikakistocrat's picture
antikakistocrat
Joined:
Apr. 18, 2012 3:41 pm

All right-you mean we could claim Sugur Ros and Bjork as ours?

lovecraft
Joined:
May. 8, 2012 12:06 pm

Currently Chatting

GOP Blocks Equal Pay...again.

Just in time for election season, Senate Republicans blocked legislation aimed at closing the gender pay gap. For the third time since 2012, Republicans refused to allow debate on the Paycheck Fairness Act, and reminded women that the GOP doesn't believe in equal pay for equal work.

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