Carolyn Maloney: “Unemployment benefits are a necessary lifeline for jobless workers trying to make ends meet and also provide a boost to…”

“Unemployment benefits are a necessary lifeline for jobless workers trying to make ends meet and also provide a boost to the economy. These benefits are crucial when there are five job seekers for every available job. Unemployment benefits keep workers attached to the workforce, preventing some workers from shifting to other more costly programs, such as Social Security disability insurance. By the end of 2010, the Joint Economic Committee estimates that 290,000 unemployed disabled workers will exhaust their benefits. Shifting these workers from the labor market and onto the Social Security disability insurance rolls--the cost of inaction--is a staggering $24.2 billion lifetime cost, contrasted with $721.3 million this year by extending the benefits. Extending unemployment benefits is both morally right and the fiscally responsible thing to do, providing a boost to the economy and a savings to the government.”