Update 5: Senate makes a deal, UE extension for all for 14 weeks; UE extension held up: Senate debates how many workers should be eligible; Schumer says UE extension vote to come this week; WSJ: WH & Congress negotiating to extend portions of stimulus, including unemployment extension and Employer subsidies of COBRA coverage…

10/23 See Update https://moderateinthemiddle.wordpress.com/2009/10/23/unemployment-update-senate-cloture-vote-on-unemployment-extension-next-tuesday/

Update 6: WSJ covers the Senate proposal:

Senate Democrats on Thursday introduced legislation that would extend by 14 weeks unemployment insurance benefits for jobless Americans in all 50 states.

It would offer an additional six weeks of federal assistance for unemployed people in the hardest-hit states with unemployment rates above 8.5% over a three month period….

Update 5: Okay the Senate has cut a deal to extend UE for everyone not just states over 8.5% UE rate, for 14 weeks, but when will they pass the bill and git r done?. Also, still on the table:

Senate Democrats reached a deal Thursday to extend the benefits an additional 14 weeks in every state. Both proposals are paid for by extending a federal unemployment tax.

Also on the table: extending subsidies for laid-off workers to help them keep the health insurance their former employers provided, known as COBRA. The current program, which covers workers laid off through the end of the year, costs nearly $25 billion.

Congressional leaders haven’t settled on the length of an extension, or how to pay for it.

They are trying to buy off Seniors with a check by increasing..SS PAYROLL TAXES!!!!!

Several bills would issue extra payments to the more than 50 million Social Security recipients, to make up for the lack of a cost-of-living increase next year. One bill would set the one-time payments at $250, matching the amount paid to Social Security recipients and railroad retirees as part of the stimulus package enacted in February.

The payments would cost about $14 billion and would be paid for by applying the Social Security payroll tax to incomes between $250,000 and $359,000 in 2010. Currently, payroll taxes apply only to the first $106,800 of a worker’s income.

Now the Senate is holding up the UE extension arguing over how many people to cover. What new madness is this! But they are fine pushing through a bazillion dollar health care bill? And now they worry about cost on UE extensions??

Man let’s just bark at the moon, it’s probably as effective as calling these whackadoodles on the Hill but here is the linky to look up your Senator if you need a UE extension, call them..

*Ozzy courtesy of jman19428

(more…)

October 2, 2009. Tags: , , , , , , , , , , , , , , . Economy, Labor Department, Obama Administration, Politics, Taxes, Unemployment Statistics. 11 comments.

Oil, Rates May Stifle Recovery: Roubini – CNBC.com

The price of oil, which is rising too fast, and long-term interest rates that are beginning to creep up are likely to suppress a budding recovery, Nouriel Roubini, president of RGE Monitor, told CNBC Monday.

DOW off 100 now….

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more about “Oil, Rates May Stifle Recovery: Roubi…“, posted with vodpod

June 22, 2009. Tags: , , , , , , , , . Economy, Finance, Wall St. 2 comments.

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