Bush Signs Extension of Unemployment Benefits
Congressional Democrats haven’t had much luck with efforts to move stimulus legislation this week. Plans to pump billions of dollars into public works projects
Jul 31, 2020242.2K Shares8.3M Views
Congressional Democrats haven’t had much luck with efforts to move stimulus legislation this week. Plans to pump billions of dollars into public works projects and state Medicaid programs went precisely nowhere. And a push to provide Detroit’s sputtering automakers with emergency cash never got over the hurdle of GOP opposition.
Party leaders will go into Thanksgiving with one victory, though. This morning, President George W. Bush signed a $6 billion billextending unemployment benefits for seven weeks nationwide. In states where unemployment is above 6 percent (including Michigan, Californiaand Florida) the extension will be 13 weeks. The House passed the bill in the first week of October, and the Senate followed suit yesterday.
If you’re feeling a touch of deja vu, there’s good reason. Washington has already extended jobless benefits once this year — by 13 weeks back in July. Citing that effort, the Bush administration had initially opposed another round. It argued that “unemployment benefits should be
temporary in nature to encourage a return to work as quickly as possible.”
Faced with the ever-sinking economy, however, Bush had little choice but to sign the bill.
Indeed, the Labor Dept. reported yesterdaythat first-time jobless-benefit claims in the first week of November jumped to 542,000 — up 27,000 from the week before and the highest number since 1992. Nationwide, unemployment stands at 6.5 percent, but that figure is expected to rise above 8 percent next year.
And we thought that Iraq would be the Bush legacy…
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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