House Rejects Extended Unemployment Benefits

by TwoCentsEditor
Published on: 06/29/2010
Categories: Current Events, Economics
Tags: , , , ,
Comments: No Comments

Legislation to extend unemployment benefits to 99 weeks is now stalled in both Houses of Congress. This is an unfortunate manifesation of our reliance on government spending. Advocates of extending the benefits cite nearly 1 million people who have had their benefits end. This is likely to result in more foreclosures and defaults on other types of debt. Opponents of the extension cite the out of control national debt and the fact that we just can’t keep doing the same thing and that the days of ‘Business as Usual’ are over. Sadly, there are no easy answers here.


Recent Posts
  • Lagging Indicators and Nagg… by TwoCentsEditor

    After the first weekend of the Holiday shopping season, there were jubilant members of the mainstream press virtually jumping out of their skins at the news that holiday spending was looking strong. The initial counts showed an uptick in spending and that was all the MSM needed. Interestingly at the [...]

  • "All is Quiet on the E… by TwoCentsEditor

    2011 had been touted as the year that everything would change. Massive paradigm shifts would rock our world and many a prophecy was made regarding financial crises, currency crises, wars, rumors of wars, and there was even one fellow who said the world itself would end, although he later retracted [...]

  • France Downgraded by S&P by TwoCentsEditor

    Editor’s Note: As long as the bankers don’t get their way, the downgrades and raids on national treasuries / economies will continue. When they bankers get their way, the pain stops. Just go back and take a look at the chronology of what has happened over the past several years [...]

  • Greece's Clock is STIL… by TwoCentsEditor

    Editor’s Note: Not again! Weren’t we told a month ago that this problem was fixed? Guess it had to be kept quiet over the shopping season so that spending would be healthy.. Lucas Papademos, Greece’s new technocrat prime minister, faces a race against time to secure a second financing package [...]

  • IMF: World Economy at '… by TwoCentsEditor

    Editor’s Note: The IMF should know; they’re the ones moving the chess pieces in this game… chief Christine Lagarde warned Tuesday that the world economy is at a “very dangerous juncture,” speaking of the potential impact on poorer nations during her first visit to Africaas head of the fund. The [...]

  • A Look Behind the Paradigms… by TwoCentsEditor

    Co-Authored by Gregory Olson, CEO – GRO Enterprises One of the traps all analysts fall into from time to time is their inability to see the forest through the trees. We are all guilty of this from time to time, and those who would deny this simple reality only set [...]

  • Jon Corzine - Permanent Amnesia by TwoCentsEditor

    Editor’s Note: “No I don’t know where the money is”.. “No, I didn’t intend to break any rules”.. Does anyone really believe a word that comes out of the former Goldman boy’s mouth??? As the first former U.S. senator to be subpoenaed by Congress in more than a century, Jon [...]

  • Just When You Thought You&#… by TwoCentsEditor

    As I wrote in the last installment regarding the situation in Europe, matters are progressing there much more quickly now as the continent sways back and forth between financial oblivion and a nervous peace brought about by paper promises (yes, paper promises) by central banks around the world. The purpose [...]

  • Kicking the Can Down the Road 101 by TwoCentsEditor

    Editor’s Note – Even the mainstream press is coming to the realization that there is no fixing the Eurozone’s debt problems; just postponing the inevitable. BRUSSELS (AP) – Under pressure to deliver shock treatment to the ailing euro, European finance ministers failed to come up with a plan for European [...]

  • How Paulson Gave Hedge Fund… by TwoCentsEditor

    Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase [...]

Categories
Recent Comments
  • Stacey Derbinshire about Leading to What?
    I found your site on technorati and read a few of your other posts. Keep up the good work. ...
  • Mike Harmon about Payroll Tax Receipts vs. SP…
    I discovered your homepage by coincidence. Very interesting posts and well written. I will put your site on my blogroll. :-)
  • Jose Sinclair about Roubini's Reversal?
    We all know that "national security" trumps all - in fact, if you don't do something the feds claim is ...
  • TwoCentsEditor about Basic Financial Analysis - Part II
    Hi, We don't take donations, however, anyone interested in helping us continue to provide this information should feel free to ...
  • penny stock pick about Basic Financial Analysis - Part II
    Do you take donations or is this free like some of the penny stock pick site I know that take ...
  • Sarah about Basic Financial Analysis - Part I
    Pretty nice post. I just came across your blog and wanted to say that I've really liked browsing your posts. Any ...
  • Kelly Brown about Transition to Radio CICN complete
    Hi, gr8 post thanks for posting. Information is useful!
  • Steven Kadison about A response to Senator Arlen Specter
    Nice piece - tell these clowns how it is. I am sick and tired of them spending my kids' futures ...
  • TwoCentsEditor about Will 2009 be the year?
    Apparently, CIC had some troubles the past few days. I am told that everything should be fixed soon. Regards, Andy Sutton
  • chris banick about Will 2009 be the year?
    Great site Mike, But I seem to have trouble with the links to www.contraryinvestorscafe.com for some reason. Do you have ...
Welcome , today is Saturday, 02/11/2012