Congratulations Obama, you have won: Most of the unemployed no longer receive benefits
WASHINGTON (AP) -- The jobs crisis has left so many people out of work for so long that most of America's unemployed are no longer receiving unemployment benefits.
Early last year, 75 percent were receiving checks. The figure is now 48 percent - a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more.
Yet for a growing share of the unemployed, a vote in Congress to extend the benefits to 99 weeks is irrelevant. They've had no job for more than 99 weeks. They're no longer eligible for benefits.
I guess the number "99" takes a whole new meaning now.
Self-sacrifice, moderation, and reducing domestic spending have won the day.
Thank God we got those Bush tax cuts extended for two years!