Washington, DC: An estimated 1.3 million people are about to lose their extended federal unemployment benefits this Saturday.

Washington, District of Columbia Map  

Washington, DC: An estimated 1.3 million people are about to lose their extended federal unemployment benefits this Saturday.

 

 

An estimated 1.3 million people around the United States of America are about to lose their extended federal unemployment benefits this Saturday as those payments are cut off.

 

Another 1.9 million people across the United States of America are expected to use up their state benefits before the end of June 2014.

 

The cuts to those payments comes after the United States Congress were unable to extend the program when it passed a budget deal last week in Washington, District of Columbia.

 

People who only depend on this cash assistance, the end of the federal government’s “emergency unemployment compensation” will mean some difficult belt tightening decisions.

 

According to the United States President Barack Obama Administration, the end of extended benefits can have a major impact on the economy.

 

According to government figures, the average weekly benefit check is $300.

 

According to the United States Department of Labor, around 214,000 people in California will lose their payments, a figure expected to rise to more than a half a million by June 2014. In the last 12 months in 2013, people in California receiving these federal jobless benefits received around $4.5 billion.

 

According to the United States President Barack Obama Administration, those payments have kept 11.4 million people out of poverty and benefited almost 17 million children.

 

According to the United States President Barack Obama Administration, the end of extended benefits can have a major impact on the economy.

 

On Friday, the White House issued a statement saying that United States senators have put forward bipartisan legislation to extend Emergency Unemployment Insurance Benefits for 3 months and United States Senate Majority Leader Harry Reid will bring it to vote as soon as they are back from recess.

 

According to the Congressional Budget Office (C.B.O.), the cost to extend the federal benefits by another year is about $26 billion.

 

Republicans have said that the program has already cost $252 billion in the last 5 years.

 

The program was first signed into law in June 2008 by Former United States President George W. Bush, when the unemployment rate was 5.6% and the average duration of jobless insurance was 17.1 weeks.

 

The unemployment rate climbed to more than 10% at the height of the Recession in 2009 and the United States government extended the federal benefits for the long-term unemployed.

 

Thanks to a weak recovery, those benefits have been either extended or expanded at least 11 times, but most states have cut back unemployment benefits as the labor market has improved.

 

**** Community Comments: ****

 

– Do you think about extending federal unemployment benefits?

 

– Do you think there should be any modification to the rules and qualification to receive federal unemployment benefits?

 

– If you are receiving federal unemployment benefits, how will this cut affect you and your family?

 

** Please write in your comments in the comment section on this news story. **

 

**** Thank You For Your Comments and For Participating. ****

 

——————————————————————————————————————————————————————————————————————————————————-

 

** (Map Was Made By ZachNews Using Google Earth) **

 

 

%d bloggers like this: