Check out the status of unemployment across America and how high the figure is for the long term unemployed.From Denny: The reality is that the recent tax cuts bill that was signed by President Obama on Friday only reinstates and extends unemployment insurance to about one million people. That's it.
The 99ersRemember all those who have been unemployed for so long - past the two year mark and many for as long as four years - now called The 99ers because they exhausted their 99 weeks of available benefits? There are literally millions of them, perhaps as many as seven million by now. Every month there are an additional two million added to their roles. Though the statistics are sketchy and infrequent it's believed The 99ers make up at least 10 percent of the unemployed.
Most 99ers over age 50 Never mind that most of The 99ers are older Baby Boomers, there are those under age 45, many are well past age 50. They have paid unemployment insurance from their paychecks every month, every year, for decades. Now, in their time of need, their own government and politicians turn a deaf ear to them. How long before you, a relative or someone close to you enters their unhappy ranks? And we wonder why we see so much violence on the news every night, as a larger and larger segment of American society grows more desperate?
Economists seem to think maybe the economy is turning around because of the number of initial unemployment claims have trended downward by 400,000 this past month. Let's hope they are correct on their judgment call because this economy has already shed eight million jobs during this so-called "recession."
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