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Tuesday, December 7, 2010

How much Unemployment is too much?

With the announcement yesterday that the Administration had reached a compromise deal to extend the current tax rate in exchange for also extending unemployment benefits for another 13 months, we must start asking-how much is too much? How long are we to continue to subsidize unemployment?

It might behoove you to know, Ben Bernanke thinks unemployment will not fall to 5-6% for another 4-5 years.

Is that how long we will pay for the unemployed?

1 comment:

  1. I guess you know that this extension, if it passes, doesn't change the 99 week ceiling on the welfa... unemployment benefits that the unemployed receive. It only extends the time available to file for them.

    A whole bunch of people are fixin' to run out of money real soon. Of course, this will allow the fed to report that unemployment numbers have gone down because all that fall off will no longer be counted as unemployed.

    So when do you think the riots are scheduled to begin? And should we dress formally or will this be more of a casual affair?