Unemployment money running out

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Bonkers's picture
Joined: 03/01/2010

Many millions of workers are drawing unemployment weekly payments---generally around $300-350 per week except for certain groups like auto workers who get 90% of their total pay being unemployed---part by a work fund and part by unemployment fund.

Some of these workers have drawn these wages now for up to two years.

The states ran out of money long ago---Washington is paying most of it--even if your an unemployed Libertarian or Tea Party person.
This 10% unemployment (it is MORE than that) plus many on underemployment, must be around 15 million workers.

The question is what is going to happen when there is no more money for these payments? Can you imagine that many with NO INCOME?
Folks, you can't employ 15 million to solve the problem in a short time--it will take years to get back to 4%, maybe never.
One can be "positive" (falsely) about this but it is very likely!

We better not wait for it to happen and make plans NOW to manage this situation. Even a reasonable tax increase would be useless.
Roosevelt created millions of jobs in 2-3 years by inventing them.

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