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White House presses Congress for jobless benefits

WASHINGTON — The White House is stepping up its push for Congress to extend unemployment insurance for out-of-work Americans, linking the benefits to an extension of expiring Bush-era tax cuts.

President Barack Obama’s Council of Economic Advisers on Thursday reported that if Congress does not extend the benefits, two million unemployed workers will lose coverage this month and 7 million would lose coverage by November 2011.

The report says the benefits have a broad impact because recipients spend the money they receive and sustain employment elsewhere in the economy. The economic advisers estimate that the unemployment benefits translated into 800,000 more jobs and a gross domestic product that was 0.8 percent higher in September 2010.

One comment

  1. You idiots who voted these rich monguls in, deserve what you get, I’m just sorry that the ones who really can benefit have to suffer. But when your newly elected house Republicans and there sidekicks the tea Party take over in January, I’m sorry to say there is more to come and more disappointments. you will be prayn 4 11/12 to get here.