Senate Defeats Bills to Extend Unemployment Benefits

moneyThe Senate attempted to reach an agreement on a short or longer-term extension of unemployment insurance (either three months or 11 months) but alas, the issue has fallen short.

We feel like there’s no much more to even say. Sure, we could go into statistics like the cost of $6.4 billion to the government for the extension of three months.

Or we could point out a statistic of 2.3 million children last year living in our country with at least one parent who was looking for a new job for at least six months, per the Urban Institute and published by The Wall Street Journal. Compared to the number of 754,000 in 2007, that’s quite significant.

We’re kind of speechless so we’ll just let this excerpt from The New York Times do the explaining:

“After days of negotiations, Senator Harry Reid of Nevada, the majority leader, abruptly called a vote to end debate on two Democratic measures that would extend benefits for out-of-work Americans for at least three months, gambling that he could muster enough support from moderate Republicans to move on to final passage for at least one of the proposals. But both votes failed, and the possibility of a bipartisan deal collapsed during procedural arguments, with Democrats and Republicans accusing one another of negotiating in bad faith…The first vote failed, 52 to 48, on a measure proposed by the Democratic leadership that would have extended benefits for 11 months. The extension would have been largely financed by continuing a 2 percent cut to Medicare health providers for an additional year, through 2024. The second vote, on the original bill, which would have extended benefits for three months at a cost of $6.4 billion, failed 55 to 45.”