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The Impending Triple Hit to the U.S. Economy

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The Impending Triple Hit to the U.S. Economy

Post by gettheminNOVEMBER on Mon Jul 18, 2011 6:15 pm

http://news.yahoo.com/impending-triple-hit-u-economy-193800745.html

The Dow is falling, job growth is nonexistent, and the unemployment rate is up, but that's not the worst of the economic news. After December 2011, extended unemployment benefits expire. According to The Lookout, the loss of unemployment benefits will remove $37 billion from the economy. Almost 20 percent of personal income is "now provided by the government," reports the New York Times.


The semi-good news is that the loss of unemployment income will happen slowly. It started earlier this year when the first batch of 99ers ran out of unemployment benefits, and it will continue with thousands losing their benefits each week until the complete expiration in early 2012.

What does this mean? It means that as individuals and families run out of benefits, they will apply for welfare. At the very least, they will go on food stamps and Medicaid. There will be an even larger increase in multi-family households, and more empty houses and apartments. The latter doesn't translate well to the still sagging real estate market, but that's where the U.S. is headed if we don't do something very soon.

This is what we have been reduced to? Frustrated

gettheminNOVEMBER
Member

Posts : 2626
Join date : 2011-02-21
Age : 42

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Re: The Impending Triple Hit to the U.S. Economy

Post by Jerry on Mon Jul 18, 2011 7:12 pm

gettheminNOVEMBER wrote:http://news.yahoo.com/impending-triple-hit-u-economy-193800745.html

The Dow is falling, job growth is nonexistent, and the unemployment rate is up, but that's not the worst of the economic news. After December 2011, extended unemployment benefits expire. According to The Lookout, the loss of unemployment benefits will remove $37 billion from the economy. Almost 20 percent of personal income is "now provided by the government," reports the New York Times.


The semi-good news is that the loss of unemployment income will happen slowly. It started earlier this year when the first batch of 99ers ran out of unemployment benefits, and it will continue with thousands losing their benefits each week until the complete expiration in early 2012.

What does this mean? It means that as individuals and families run out of benefits, they will apply for welfare. At the very least, they will go on food stamps and Medicaid. There will be an even larger increase in multi-family households, and more empty houses and apartments. The latter doesn't translate well to the still sagging real estate market, but that's where the U.S. is headed if we don't do something very soon.

This is what we have been reduced to? Frustrated


How soon we forget: The first batch of 99er's ran out of luck LAST year! My wife became one in March of 2010; myself last November, a week before Thanksgiving...

Jerry
Member

Posts : 18
Join date : 2011-02-17

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Re: The Impending Triple Hit to the U.S. Economy

Post by Guest on Mon Jul 18, 2011 8:09 pm

Jerry wrote:
gettheminNOVEMBER wrote:http://news.yahoo.com/impending-triple-hit-u-economy-193800745.html

The Dow is falling, job growth is nonexistent, and the unemployment rate is up, but that's not the worst of the economic news. After December 2011, extended unemployment benefits expire. According to The Lookout, the loss of unemployment benefits will remove $37 billion from the economy. Almost 20 percent of personal income is "now provided by the government," reports the New York Times.


The semi-good news is that the loss of unemployment income will happen slowly. It started earlier this year when the first batch of 99ers ran out of unemployment benefits, and it will continue with thousands losing their benefits each week until the complete expiration in early 2012.

What does this mean? It means that as individuals and families run out of benefits, they will apply for welfare. At the very least, they will go on food stamps and Medicaid. There will be an even larger increase in multi-family households, and more empty houses and apartments. The latter doesn't translate well to the still sagging real estate market, but that's where the U.S. is headed if we don't do something very soon.

This is what we have been reduced to? Frustrated


How soon we forget: The first batch of 99er's ran out of luck LAST year! My wife became one in March of 2010; myself last November, a week before Thanksgiving...

I ran out in March, 2010. All I am entitled to is Food Stamps - no Medicaid in RI if you aren't disabled or don't have children under 18. They will NOT forget us this time around! We have seen this happen too many times before. I'm sure that a lot of the original "99ers" are still around - we lost our jobs at the beginning of this "Depression" when there wasn't a chance in hell of finding another one, now, we have been out so long, no one will hire us!

BLeep

Guest
Guest


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Re: The Impending Triple Hit to the U.S. Economy

Post by couth11 on Mon Jul 18, 2011 10:26 pm

gettheminNOVEMBER wrote:http://news.yahoo.com/impending-triple-hit-u-economy-193800745.html

The Dow is falling, job growth is nonexistent, and the unemployment rate is up, but that's not the worst of the economic news. After December 2011, extended unemployment benefits expire. According to The Lookout, the loss of unemployment benefits will remove $37 billion from the economy. Almost 20 percent of personal income is "now provided by the government," reports the New York Times.


The semi-good news is that the loss of unemployment income will happen slowly. It started earlier this year when the first batch of 99ers ran out of unemployment benefits, and it will continue with thousands losing their benefits each week until the complete expiration in early 2012.

What does this mean? It means that as individuals and families run out of benefits, they will apply for welfare. At the very least, they will go on food stamps and Medicaid. There will be an even larger increase in multi-family households, and more empty houses and apartments. The latter doesn't translate well to the still sagging real estate market, but that's where the U.S. is headed if we don't do something very soon.

This is what we have been reduced to? Frustrated

Does anyone know exactly how many of us there really are? I just started pondering the #s I've heard, recently. ..they contradict each other.

couth11
Member

Posts : 259
Join date : 2011-05-17

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Re: The Impending Triple Hit to the U.S. Economy

Post by gettheminNOVEMBER on Mon Jul 18, 2011 10:34 pm

Last time I heard the 99ers were over 7 million.

gettheminNOVEMBER
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Posts : 2626
Join date : 2011-02-21
Age : 42

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Re: The Impending Triple Hit to the U.S. Economy

Post by rprp on Mon Jul 18, 2011 10:38 pm

couth11 wrote:
gettheminNOVEMBER wrote:http://news.yahoo.com/impending-triple-hit-u-economy-193800745.html

The Dow is falling, job growth is nonexistent, and the unemployment rate is up, but that's not the worst of the economic news. After December 2011, extended unemployment benefits expire. According to The Lookout, the loss of unemployment benefits will remove $37 billion from the economy. Almost 20 percent of personal income is "now provided by the government," reports the New York Times.


The semi-good news is that the loss of unemployment income will happen slowly. It started earlier this year when the first batch of 99ers ran out of unemployment benefits, and it will continue with thousands losing their benefits each week until the complete expiration in early 2012.

What does this mean? It means that as individuals and families run out of benefits, they will apply for welfare. At the very least, they will go on food stamps and Medicaid. There will be an even larger increase in multi-family households, and more empty houses and apartments. The latter doesn't translate well to the still sagging real estate market, but that's where the U.S. is headed if we don't do something very soon.

This is what we have been reduced to? Frustrated

Does anyone know exactly how many of us there really are? I just started pondering the #s I've heard, recently. ..they contradict each other.

I bet the government knows how many 99ers there are. They just won't say.

rprp
Member

Posts : 58
Join date : 2011-07-15

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Re: The Impending Triple Hit to the U.S. Economy

Post by Jen on Tue Jul 19, 2011 12:21 pm

What's up with that article saying the first batch started running out this year? My husband became a 99er in March of 2010. That was the first batch and the reason the very first batch all ran out at the same time was because of the wait and gap they had for Congress to pass tier 3 and 4. I became a 99er in one of the first batches this year in Feb. and there were many more "batches" before me. The media seems to want to completely ignore the fact that people have been becoming 99ers ever since March of last year. Evil or Very Mad

And why do these articles always claim that 99ers can get Medicaid? We didn't and haven't had any medical coverage or treatment since we lost our jobs in 2008 and 2009. They said we had to be disabled or under 18 to get it. Also, they act like all 99ers can get welfare too and most of us have children that are already grown so, we can't get that either.

Jen
Member

Posts : 13
Join date : 2011-02-17

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Re: The Impending Triple Hit to the U.S. Economy

Post by Guest on Tue Jul 19, 2011 12:30 pm

I am a 99er since May of last year. I believe the original group of 99ers were early March of 2010. That's counting those that started collecting April 2008. Don't forget, some people lost their jobs as early as January 2008.

Guest
Guest


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Re: The Impending Triple Hit to the U.S. Economy

Post by Jen on Tue Jul 19, 2011 12:51 pm

MaryKay wrote:I am a 99er since May of last year. I believe the original group of 99ers were early March of 2010. That's counting those that started collecting April 2008. Don't forget, some people lost their jobs as early as January 2008.
Yes, my husband had lost his job in Feb. 2008 and he ran out in March 2010. All of the first batch of 99ers ran out in March 2010, whether they were laid off in Nov. 2007 or April 2008 because they had a big gap of not collecting while waiting on Congress to pass tiers 3 and 4 and so they all starting drawing those last two tiers at the same time and ran out at the same time. They had drawn the EB before tiers 3 and 4.

Jen
Member

Posts : 13
Join date : 2011-02-17

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Re: The Impending Triple Hit to the U.S. Economy

Post by lam on Tue Jul 19, 2011 2:56 pm

The 99ers are a forgotten ever growing group of citizens in this country. I have gone without now since March 2010. I exist on food stamps and the help once in a while from family. I truly believe that I will never have another full time job again. I am 50 so many employers think that I am too old to work. Plus I have been out of work for so long now I am look over again. It is a never ending battle and I don't see much light at the end of the tunnel!!!!!!!!!!!!

lam
Member

Posts : 60
Join date : 2011-04-13

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Re: The Impending Triple Hit to the U.S. Economy

Post by gonzofl on Tue Jul 19, 2011 7:29 pm

A 99er since March of 2010. I have,with allot of luck,secured a part time job since mid April of this year. 24 hrs per week at $8.00 isn't much but it spends better than the zero dollars I was bringing in for over a year. Thank God my wife has been able to retain her job through all of this or we would be living in the woods.

gonzofl
Member

Posts : 29
Join date : 2011-02-21
Age : 61
Location : Citrus County,Florida

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Re: The Impending Triple Hit to the U.S. Economy

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