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Tuesday, June 29, 2010

Will the United States economy suffer, if the unemployment extension is dropped?

There are differing views that the U.S. economy will suffer long-term financial harm, if The American Jobs and Closing Tax Loopholes Act-HR 4213, ultimately is not passed within the Senate.

On June 24, the effort to end debate on the bill was defeated by a 57 to 41 vote margin. With a Republican Senatorial firewall and Moderate Democratic Senator Ben Nelson (D-NE) voting against proceeding to an up or down vote, on the bill.

Michigan's Governor Jennifer Granholm believes Michigan difficult financial state will get worse. The Governor said that failure of the U.S. Senate on Thursday to approve an extension of unemployment insurance benefits and federal Medicaid money is “devastating” for Michigan, noted Crain's Detroit Business, and for other states across the country.

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