Kirk Watson: “at the end of this month, millions of unemployed Americans will begin to lose their benefits under the Temporary…”

“at the end of this month, millions of unemployed Americans will begin to lose their benefits under the Temporary Extended Unemployment Compensation program. In my State, the State of California, 150,000 people will run out of benefits and still not have a job on May 31. Congress needs to act to extend these benefits. During a recession, unemployment insurance is one of the most efficient ways to help Americans and to keep the economy moving. Unemployment insurance puts cash in the hands of people who need it most, people who will spend the money on rent and groceries, rather than put it in the bank. Unemployment insurance is cost-effective. Unlike the Republican budget, the Federal Unemployment Insurance Trust Fund currently has a surplus of more than $21 billion. That money can easily meet the needs of America's unemployed until we can get the economy moving again. Instead, the President and the Republican Party have spent their time and energy trying to pass tax cuts for wealthy investors.”