Smart Unemployment

Have you exhausted 99 weeks of benefits?

Are you recently unemployed, and only eligibile for 26 weeks of benefits?

Would a “Tier 5″ of Emergency Unemployment Compensation helpful you?

Thousands of Americans have received the maximium number of unemployment benefits in their state, and are asking “What Next?”

People against a Tier 5 argue the following:

• The country can’t afford it. An additional unemployment extension would increase the Federal deficit and the national debt.
• 99 weeks is enough. With regular benefits lasting only 26 weeks, tier 5 opponents argue that at 99 weeks, unemployment recipients are already getting nearly 4 times the regular amount.
• More benefits sends the wrong message. Those against a tier 5 (and unemployment extensions in general) think that extending benefits encourages people to not work.

Here’s what Tier 5 supporters have to say:

• Government can afford it. With billions of dollars of government money to bail out the banks and fund foreign wars, the government has the ability to financially support a tier 5 extension.
• The economy requires it. Many “99ers” argue that they are actively looking for work, but in an environment where there are 6 applicants for every 1 job opening, the math just doesn’t work.
• Government should watch out for its people. This was the reason that unemployment benefits were created in the first place — to create a social “safety net”.

What is your view on a Tier 5 extension? Feel free to leave a comment below.