When unemployment extensions were denied, the USA lost a stimulus that creates $1.62 of economic benefits for every dollar given to this who are looking for work.
Why lower the length the unemployed people get benefits when the economy is already in the tank? Why do this when tax cuts for the rich just got magnified?
Two reasons come to mind. One is that unemployment statistics only count those seeking work or those receiving benefits as unemployed. This lie has been carried out for generations.
Thus reducing back to previous lengths of time, means benefits will be cut for between nine and 15 months for some and ran out on December 23rd for many.
This new USA austerity will crumble our economy further via less money being spent on items like food, heating and rent thus causing more layoffs. And create an underclass that is further under what was once the middle class.
No jobs will move back to higher labor in the USA. So crime soars, for-
profit, solitary confinement loving jails proliferate.
But let’s stick to stats for a bit more. By lowering the length of time the USA government statisticians can make us believe less than 10% of Americans are out of work. But those off unemployment AND those who have given up trying to find work do not count as unemployed even though they are chronically so.
So since 2002 we have had from 2000 to 10,400 mortgage foreclosure PER DAY. Recent reports show three people looking for work for every single available job. And now they are cut off from any money at all?
So this is our Spain or Greece moment of crisis. Our creditors like those in Europe are demanding that the least fortunate be cut off in order to save the bankers who made the outrageous loans they knew they’d be foreclosing.
Not just foreclosing but also being bailed out for. So these egregious law breakers double dipped and got bailed out and sold the homes. The tiny prices for the foreclosed homes then exacerbated the drop in home values thus damaging those who work long hours to make ends meet and pay their mortgages.
And unlike Sweden that faced similar bad bankers in 1998, none of the American bankers went to jail, where they all did in Sweden. Some are still in jail 15 years later.
Now that same undervalued underworked and underpaid working class is witnessing further tax cuts for the rich.
Oh this should be old news: the US government, regardless of political party is only serving those who fund their campaigns in unlimited ways thanks to the US Supreme Court Citizens United decision which only united those rich enough to buy legislation.
May all those looking for work find it. May all those struggling in the USA or after typhoons, earthquakes, volcanoes, droughts or any other ladder- day disasters brought on by the rich but that tend to hammer the hard working or even desperate: have a great day on Christmas.