Even though the bill is helping reboot our economy, the bill does not "extend the deadline to apply for unemployment benefits." If the deadline of the bill isn't extended, 1.2 million people will run out of benefits after Feb. 28.
However, the bill isn't just a Christmas gift for everybody. The Senate measure does not provide "additional assistance for states." And because of that, many governors are asking for the Obama administration to fix the budget gaps by sending more federal dollars their way.
Even though the bill doesn't cover all the different angles, it is a good start for the 2010 year. It looks like Obama is going down is "To do list" that he created in the State of the Union Address and check marking boxes as the year goes on. Keep it up Obama!!!!
2 comments:
I think i might be over skeptical, but does that necessarily mean more money circulation in the public? I don't know too much about the bill, but do businesses still get money if they higher unemployed people yet cut the hours of their current employees?
I guess Keynes would approve of all this money the government is trying to circulate... It even reminds me of Roosevelt during the Great Depression. But sometimes it worries me how much debt we'll have at the end of this.
On a brighter note, I hope this bill helps alleviate the economic situation of a lot of unemployed people. Maybe the added flow of money will help the recession spiral!
Well, you are right Jenny. It does mean more money circulation. If we look back to the monetary flow and physical flow chart that we went over in class last week, more jobs means more money, and more money means more spending and more spending means more revenues for businesses and more revenue means income for the employed and the cycle continues!!!
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