Monday, May 24, 2010

Jobpocalypse now

The extend-and-pretend policy is the basis on which most liberals live by.
This week, the Senate is expected to extend jobless benefits to more than 5 million Americans through the end of the year. It is the sixth time in nearly two years that they’ve expanded or extended unemployment benefits — putting off, again, a day of reckoning our political leaders seem unwilling to face.

With the national unemployment rate at 9.9% — and 9.8% here in New York City — officials are afraid of what will happen to our cities, our welfare rolls and our struggling economy if these long-term unemployed are no longer given government assistance.

But we pay for this feint in other ways. The government shelled out $140 billion in unemployment benefits last year to an estimated 21 million people. That price tag is likely to increase this year.

This is no ordinary jobs crisis. Compared to other eras, our long-term unemployment numbers are staggering.

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