- Report: Extending long-term unemployment benefits would create 300,000 jobs, Associated Press, November 29, 2012, Washington Post: “Extending the current level of long-term unemployment benefits for another year would add 300,000 jobs to the economy, according to a report from the Congressional Budget Office. The analysis released Wednesday from the nonpartisan office estimates that keeping jobless benefits would cost the government $30 billion. But it would also lead to more spending by the unemployed, boosting demand for goods and services and creating new jobs. Federal long-term unemployment benefits are set to expire on Dec. 29 for more than 2 million workers unless Congress approves an extension…”
- Unemployment benefits cost: $520 billion, By Tami Luhby, November 29, 2012, CNNMoney: “Jobless Americans have collected more than half a trillion dollars in benefits over the past five years. State and federal unemployment insurance programs have cost roughly $520 billion, according to a Congressional Budget Office report released Wednesday. The price of continuing this safety net will be the subject of intense debate in Congress as lawmakers decide whether to extend the deadline to file for federal benefits beyond year’s end as part of the fiscal cliff negotiations. Extending federal jobless insurance next year could cost as much as $30 billion, according to the CBO analysis…”
Poverty-related issues in the news, from the Institute for Research on Poverty