No Bailouts for Jobless or Homeless
In the porkathon to pass the bailout bill, Congress balked at two measures–to extend jobless benefits for the unemployed and allow bankruptcy judges to reduce penniless homeowners’ mortgages.
So much for Main Street, where signs of a 1930s Depression are cropping up everywhere:
*New figures show 760,000 lost jobs this year. Of the 9.5 million Americans out of work, two million have been for more than six months. Nearly 6.1 million people are working part-time because worsening business conditions have led to fewer hours and less pay.
*With bank-account insurance increased from $100,000 to $250,000, the potential liability of the Federal Deposit Insurance Corporation for failing banks is now estimated to be $1.1 trillion. The FDIC’s fund currently has about $45 billion, a five-year low.
One Response to “No Bailouts for Jobless or Homeless”
Maybe some progressive will notice that the Democrats are arguing at the same time that unemployment is horrible and that unemployment compensation needs to be extended while they also argue that there are millions of jobs that Americans wil not due and that a policy of open borders and unlimited immigraiton needs to be adopted.
Maybe some in the Democratic majority should introduce a separate bill calling for increased unemployment benefits while calling for a ten to one immigration holiday. that is, for every week that unemployment is extended, there will be zero immigrants allowed into the U.S. Or maybe allow for extended benefits as long as the unemployment rate is above a certain number as long as there is no immigration into the U.S. during the same period.