1.2 Million to Lose Unemployment Benefits Today
• CalculatedRiskBlog.comCurrently, 5.6 million people are accessing one of the federal extensions (34-53 weeks of Emergency Unemployment Compensation; 13-20 weeks of Extended Benefits, a program normally funded 50 percent by the states).
If Congress keeps printing and borrowing money to extend and pay unemployment benefits to persons not producing, the dollar will become worthless. Inflation and huge debt will strangle the U.S. economy and Americans with higher taxes and ultimately inflation that will deplete Citizens’ discretionary income spent on goods and services, putting millions more out of work.