Unemployment Benefits Should Not Be Squeezed by Fed Belt Tightening

unemployed in line
unemployed in line

Two events on the jobs front happened this week that bear taking note of.

Congress is blowing off today's deadline to extend unemployment insurance to 2 million people. These are people who lost their jobs in the Great Recession and have been bringing home an average jobless benefit of $300 a week. They do not get pay checks, health insurance coverage, paid vacations, sick time, disability pay and/or life insurance. And they have no unions to speak for them.

And just yesterday, President Obama announced that he intends to freeze salaries for 2 million federal workers for the next two years. No raises, but they still get pay checks, health insurance coverage, paid vacations, sick time, disability pay and/or life insurance. The outcry from unions could be heard across the country. Me? Sorry, must have misplaced the crying towel.