Come the first of January I will be one of the 2.1 million Americans to loose extended unemployment benefits should congressional legislation not be passed. A week ago I wrote about what the effects could be on consumer confidence and the holiday shopping season in which near 40% of our GDP is based on. I aptly called it a war on consumer confidence that will cause a contraction in our economy should those with little money but a strong desire to spend on family/loved ones not do so.
If you got this letter right before the holiday's would you be more apt to spend?
SUBJECT: Extended Benefits ExpirationNow what has changed? Well the asinine announcement that President Obama has offered up social security reform for the debt negotiations of the fiscal curb. I am willing to have my benefits expire and suffer the hardship that it will cause. Believe me - poverty is not fun and 230$ a week does not go far in NYC when your rent is already 1,000 a month. I can not speak for the other 2.1 million Americans that will suddenly be without a lifeline.
Unless the U.S Congress extends Unemployment Insurance Benefits, all Extended Benefits and Emergency Unemployment Compensation will end on December 30th, 2012. The last week you can claim Extended Benefits (EB) is the week ending December 9ths, 2012. The last week you can claim Emergency Unemployment Compensation (EUC) is the week ending Sunday, December 30th, 2012.
Until these benefits end, please continue to claim weekly benefits as you usually do. Visit our Unemployment Assistance page at www.labor.ny.gov for:
*Details on EB and EUC, including an explanation of deadlines for each program.
*Updates on any possible future extensions of EB and EUC.
We recognize that being unemployed is very stressful for you and your family. We hope you will let us help you with your job search.
I can speak for myself and my belief that I can suffer temporary hardship now so that future generations will be able to have the same earned lifetime benefits that their parents did. Social security does not add a single dollar to the deficit. The fact that it is being included in the talks does not speak to the fact that President Obama won election with over 5 million plus votes over Mitt Romney. It does not speak to the new Senate majority. It does not speak to the Presidents mandate and the political capital that he has earned.act No democrat worked for Obama's reelection to be betrayed. Is that word to harsh? I'm sorry - no democrat worked for Obama's reelection to have earned lifetime benefits selectively traded for a marginal tax increase on the wealthy.
In fact we should be listening to the Fed when it says that Unemployment is the real danger facing this country right now.
Forget what you read in the newspapers about the “fiscal cliff.” The real showdown in Washington is not between Democrats and Republicans. It is the bizarre collision between self-righteous politicians of both parties promising to shrink government spending and raise taxes, while the supposedly independent and nonpartisan Federal Reserve pleads with them to stop before they totally wreck the economy. What threatens to take the country over the cliff is the political momentum of the establishment’s wrong-headed propaganda.
The mild-mannered Fed chairman Ben Bernanke is standing in the way, but nobody important seems to take him seriously. Though not given to inflammatory rhetoric, Bernanke is virtually standing in the middle of Pennsylvania Avenue, waving his arms and screaming at the lawmakers. Turn back! You are heading in the wrong direction. Don’t you understand? The real economic problem is not too much government debt. It is too few jobs!
Here is a list of every democratic president that offered up social security as a bargaining chip with republicans in budget negotiations.Notice something? So take my unemployment benefits. I only worked 7 years for them. I'll do without. I'll continue to be under employed and move back home at 30 to live with my parents. I'm lucky I have that option still. Just leave social security alone. There are millions of people who have paid into this system since they were young. To those that say "oh tying it to the cpi isn't that big of a deal." - I say no deal is better. If President Obama has learned anything over the last few years I would hope it would be that if he gives a little to these insane terrorists then they will ask for everything.
1. President Barack Obama.
I've got enough "skin in the game" now. I'm willing to play hard.
From that way back time on Oct 6th, 2012.
President Obama and Romney agree that we need to make gradual changes to make sure Social Security stays solvent over the long term. The disagreement is over how to do it — and that’s where President Obama and Romney have fundamentally different ideas.ACTION:
President Obama will under no circumstances agree to put your retirement at risk by privatizing Social Security, and he will reject any plan that slashes Social Security benefits. Because Romney opposes any effort to raise a single penny in new revenue, his Social Security plan is forced to rely solely on big benefit cuts to maintain solvency — analysis of a similar plan showed current workers would see cuts of up to 40 percent that would badly hurt their financial security.
Romney and Ryan also supported the Bush privatization plan that would have had exposed Social Security benefits to the financial crisis that devastated many pension funds and retirement accounts.
Call the PresidentYou won the election President Obama.
Visitor's Office: 202-456-2121
Act like it.
No deal if social security is included in these "Fiscal" curb talks.