Two Million Jobless Americans Face Their Own Fiscal Cliff If Unemployment Benefits Expire
dailykos.com — In the zillion words written about the tax-and-spending changes that make up what's being called the "fiscal cliff," one that has gotten little attention is the end of federally funded emergency extensions to unemployment insurance coverage. If nothing changes between now and Dec. 29, the Democrats on the House Ways and Means Committee estimate that some two million Americans will be up jobless creek without the paddle provided by these emergency extensions. Instantly these jobless Americans would be added to the millions who have already exhausted their benefits or were never eligible for them in the first place. The effect on them and the economy would be exceedingly painful. Recession-level painful. What a lovely Christmas present.