Motley Moose – Archive

Since 2008 – Progress Through Politics

Weekly Address: President Obama – Calling on Congress to Extend Unemployment Benefits

Tags:

From the White House – Weekly Address

In this week’s address, President Obama said that before Congress leaves for vacation, they should extend unemployment benefits for 1.3 million hardworking Americans who will lose this lifeline at the end of the year. For families, unemployment benefits can mean the difference between hardship and catastrophe, and it is also one of the most effective ways to boost our economy. This holiday season, Congress should do the right thing for the American people and make it easier for our economy to keep growing and adding jobs.  

Transcript: Calling on Congress to Extend Unemployment Benefits this Holiday Season

Hi, everybody.  The holiday season is a time for remembering the bonds we share, and our obligations to one another as human beings.

But right now, more than one million of our fellow Americans are poised to lose a vital economic lifeline just a few days after Christmas if Congress doesn’t do something about it.

Our top priority as a country should be restoring opportunity and broad-based economic growth for all Americans.  And yesterday, we learned that our businesses created about 200,000 jobs in the month of November.  That’s more than 8 million new jobs in the last 45 months.  And the unemployment rate fell to its lowest level in five years.

But we need to do everything we can to help businesses create more good jobs that pay good wages even faster.  Because the hole that we’re still digging out of means that there are still millions of Americans looking for work – often because they’ve been laid off through no fault of their own.

We also have to look out for the Americans working hard to get those jobs.  That’s why, as a country, we offer temporary unemployment insurance – so that job-seekers don’t fall into poverty, and so that when they get that job, they bounce back more quickly.

For many families, it can be the difference between hardship and catastrophe.  It makes a difference for a mother who suddenly doesn’t know if she’ll be able to put food on the table for her kids.  It makes a difference for a father who lost his job and is looking for a new one.  Last year alone, it lifted 2.5 million people out of poverty, and cushioned the blow for many more.

But here’s the thing: if Members of Congress don’t act before they leave on their vacations, 1.3 million Americans will lose this lifeline.  These are people we know.  They’re our friends and neighbors; they sit next to us in church and volunteer in our communities; their kids play with our kids.  And they include 20,000 veterans who’ve served this country with honor.

If Congress refuses to act, it won’t just hurt families already struggling – it will actually harm our economy.  Unemployment insurance is one of the most effective ways there is to boost our economy.  When people have money to spend on basic necessities, that means more customers for our businesses and, ultimately, more jobs.  And the evidence shows that unemployment insurance doesn’t stop people from trying hard to find work.

Just this week, the nonpartisan Congressional Budget Office predicted that allowing benefits to expire will be a drag on our economic growth next year. A report by the Department of Labor and my Council of Economic Advisors estimated that it could cost businesses 240,000 jobs.  And without the ability to feed their families or pay the bills, many people currently looking for work could stop looking for good.

So extending unemployment insurance isn’t just the right thing to do for our families – it’s the smart thing to do for our economy.  And it shouldn’t be a partisan issue.  For decades, Congress has voted to offer relief to job-seekers – including when the unemployment rate was lower than it is today.

But now that economic lifeline is in jeopardy.  All because Republicans in this Congress – which is on track to be the most unproductive in history – have so far refused to extend it.

So this holiday season, let’s give our fellow Americans who are desperately looking for work the help they need to keep on looking.  Let’s make it easier for businesses to attract more customers, and our economy to grow.  And together, let’s keep doing everything we can to make this country a place where anyone who works hard has a chance to get ahead

Thanks, and have a great weekend.

Bolding added.

~

Editor’s Note: The President’s Weekly Address diary is also the weekend open news thread. Feel free to leave links to other news items in the comment threads.


Categories: Uncategorized.

/ 3 Comments

3 comments

  1. JanF

    How Extending Certain Unemployment Benefits Would Affect Output and Employment in 2014

    CBO estimates that extending emergency unemployment benefits would raise gross domestic product (GDP) and employment in 2014 relative to what would occur under current law. Recipients of the additional benefits would increase their spending on consumer goods and services. That increase in aggregate demand would encourage businesses to boost production and hire more workers than they otherwise would, particularly given the expected slack in the capital and labor markets.

    Plus it is the right thing to do. Families who lose their homes will take longer to get back on their feet when the breadwinners finally do get jobs.  

  2. JanF

    Dems look to jam GOP on unemployment insurance

    This, from Nancy Pelosi at a presser today, is a very interesting move:

       House Minority Leader Nancy Pelosi on Thursday said Democrats would not support a budget deal that does not extend emergency unemployment benefits, which are set to lapse on Dec. 28 for about 1.3 million people.

       “Yes indeed, we are making a very clear statement that we cannot, cannot support a budget agreement that does not include unemployment insurance in the budget or as a sidebar in order to move it all along,” she said at a hearing she held on unemployment benefits. “It would undermine who we are as a country.”

    According to a House Democratic leadership aide, the idea here is that, if the two reach a short term budget deal that funds the government at spending levels that are higher than the sequester, which is reportedly what is near happening, it will be harder for GOP leaders to round up House Republican support for it. That will mean a greater need for Dems in order to pass any final deal through the House. This gives Dems leverage to press House Republicans to agree to extend unemployment benefits. Pelosi’s suggestion of a “sidebar” seems important – it’s a signal that Republicans can find some other way to get it done, but get it done they must.

Comments are closed.