This page has been archived and commenting is disabled.

Unemployment Rate Set To Plunge As Bill To Restore Jobless Benefits Fails To Pass Senate

Tyler Durden's picture





 

Following last week's surprising passage of the preliminary approval to extend emergency unemployment claims, i.e. emergency jobless claims, for 3 months, when six republicans sided with democrats and gave approval to the original $6.4 billion legislation, there was an expectation that up to 1.4 million Americans would get their benefits extended once again (despite the so-called recovery in the economy, and the job market, instead of just all time high S&P500). Moments ago such hopes were dashed, when a Senate plan to restore long-term jobless benefits hit a wall Tuesday after Republicans withdrew their support amid complaints over cost and other issues.

The $18 billion bill, which would restore the benefits through the end of 2014, failed to clear a key test vote. Senate Majority Leader Harry Reid needed to attract 60 senators to move the bill forward, but the bill stalled on a 52-48 vote.

 

No Republicans voted in favor.

What happened between then and now, and why did those republicans revert back to the party line?

Reid lost their support when he amended the bill and failed to come up with a plan to offset the cost within 10 years.

 

"It doesn't look good," Maine GOP Sen. Susan Collins said before the vote and after a meeting with Reid.

 

Collins and Nevada GOP Sen. Dean Heller unsuccessfully proposed that Reid go back to the three-month extension. "We're back to ground zero," Heller said.

 

The senators are expected to return to the negotiating table. The GOP-controlled House has yet to vote on extending the benefits.

 

Reid postponed a prior vote Monday night upon realizing he didn't have enough support and said he needed time to talk with members of both parties.

It almost makes one wonder if Reid isn't trying to sabotage his own legislation. Whatever the answer, it increasingly seems that no law, retroactive or otherwise, will pass before the end of the month, which also means that up to (a record) 1.4 million Americans will fall out of the labor force, in addition to the now traditional 200K-600K people who quietly exit the labor pool every month. Which also means that, as we explained previously, since the impact on the unemployment rate could be as high as 0.8% from just the EUC expiration alone, that the unemployment rate for January could crash to under 6% just as the economy is starting to really backslide, as shown by the recent horrendous data from retailers across the board.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 01/14/2014 - 18:28 | Link to Comment Leonardo Fibonacci2
Leonardo Fibonacci2's picture

WTF is going on?  Reid is a real Effing snake!!!

Tue, 01/14/2014 - 18:30 | Link to Comment nope-1004
nope-1004's picture

Unemployment is falling.  7 to 6.7.... soon to be 6.2.  Gotta save some for the coming months, you know.

 

Then, we all know what Bernocchio promised when UE gets to 6.5%, right?  NO MOAR QE.

Place yer bets.

 

Tue, 01/14/2014 - 18:31 | Link to Comment The Gooch
The Gooch's picture

2014. Year of the boomerang.

 

Tue, 01/14/2014 - 18:45 | Link to Comment zaphod
zaphod's picture

Falling unemployment is the cover the FED needs and requested in order to start to significantly tapper QE. My expectation is employment looks so good in "government statistics" that the FED finally pulls back QE by the end of 2015.

As much as we mock the fools that run the FED, they are more insane than stupid. They know they have to taper for real at some point or they lose control of the dollar, and with that goes their control as well. 

Of course this sets us up for an even bigger economy wide crash than 2008, but this way the FED will have room to turn up on printing press again, instead of the printing press being blamed as the original cause it is.

Tue, 01/14/2014 - 18:49 | Link to Comment john39
john39's picture

somewhere out there, Orwell is rolling with laughter.

Tue, 01/14/2014 - 18:55 | Link to Comment StacksOnStacks
StacksOnStacks's picture

Much Bullish!

Tue, 01/14/2014 - 19:07 | Link to Comment kaiserhoff
kaiserhoff's picture

Mother of all Boools!

Or maybe just a mother.

Tue, 01/14/2014 - 19:42 | Link to Comment El Oregonian
El Oregonian's picture

Did he just say "Moar Taper, or moar Paper? 'cus the printers have been well oiled and refilled with ink! FORWARD!!!

Tue, 01/14/2014 - 21:35 | Link to Comment CClarity
CClarity's picture

Fed can spend $85 Billion per month with no plan, but Congress can't come up with $18 Bil abd a how to pay back in 10 years.  You tell me who is running the country and who they are running it for.  It sure ain't the person who can't find a job. Nope, the objective is clearly to keep the banksters safe and the wealthy getting fine equity appreciation.  

Tue, 01/14/2014 - 19:00 | Link to Comment max2205
max2205's picture

Lets see if Barry invoke executive powers to extend UE benefits. ...permanently

Tue, 01/14/2014 - 19:51 | Link to Comment Nick Jihad
Nick Jihad's picture

Nope. The FSA's emolluments need to be contingent on continued loyal Demorat voting. That's why they love things that sunset after a year or two.

Wed, 01/15/2014 - 02:10 | Link to Comment the0ther
the0ther's picture

I think 1984 was more about doublespeak and the perverting of basic human values. Not so about surveillance as people tend to believe.

Tue, 01/14/2014 - 18:56 | Link to Comment max2205
max2205's picture

Lets see....benyellen is printing 75 bill a month....we give various country's  billions a year....

 

This won't sit well with the FSA.

 

GOP insert foot

Wed, 01/15/2014 - 01:00 | Link to Comment putaipan
putaipan's picture

doesn't sit well with me.

don't call me the free shit army.

i am one of ' them'. i.e. unemployed longer than 6 months.

 

that being said-

 

believe me when i tell you-

this is a 'test'.

you are focused on on fat ellen/yellin's qe tapering...

the real issue is sufferring.

(because of my mini-prepping and my momma's generosity. i will not suffer) but-

 

 

THIS SHIT AINT IN THE NEWS!

try drudge. amy. google. amazonian/washington times ....

IT AINT A STORY.

they are testing the waters.

no response and they will proceed.

 

p.s. - thanks tyler fer the update.

Wed, 01/15/2014 - 09:48 | Link to Comment corporatewhore
corporatewhore's picture

i have been in your shoes and can "feel your pain" along with the pain of so many AMERICANS.  At the same time Congress can't get relief to those AMERICANS suffering I see in the headlines we continue to grant 380 million to syria for some ridiculous reason.  Corporations get many times more relief than individuals.  It's sickening and I am no leftist nor a member of the card carrying FSA.  I just want justice for all Americans.  In a nation that has prided itself on its ability to lift its own  I am disgusted.  But why should I be?  Nothing has changed.  It's just that we're all waking up to the fact that our politicians are there just to get rich.  The guise of Democrat or Republican is meaningless.  They've all sold out to corporations and special interest groups.  And look who our top nominees may be in 2016--Hillary (who has no more interest in the downtrodden than the man in the moon unless it feathers her nest/nest egg) or some retread out of that other party pretending to have diametrically opposed philosophical beliefs (see big fat Christie).

Rant off.  It's time for my medications.

Tue, 01/14/2014 - 20:22 | Link to Comment Wait What
Wait What's picture

Fed will need another 900 words to explain why it's moving the goalpost. "we said 6.5%, but we really meant 6, er, 5%." At what point do quantitative measures become irrelevant and the Fed just shoots from the hip?

Tue, 01/14/2014 - 18:48 | Link to Comment knukles
knukles's picture

OK
Soooooooooooooooooo

U drops due to the Continuing Claims Sophist Adjustment Factor as said poor starving motherfuckers and leeches both become undifferentiated and thus Uncountable Once Again Part 2 so the rate drops like the glide path of a crow bar.
Great.
The Fed then finds it reasonable in their Altruistic (toward their owners, only) Heart of Hearts to cut to the Big Taper just when the markets would get spooked the most, followed ever so shortly by even worse numbers on the economy in spite of bad weather which won't last forever and ever to blame the economy upon, causing mass confusion, despair, angst, agata and increased Tums sales.

Fucking Wonderful
And they tell me there are no more fundamental at work
Let me tell you, every day Mrs K sets me straight about what's what in life...

PS  Those people on CNBS are morons.  For some unknown reason (I was possessed momentarily) I tuned to them this a.m. and the fellow from ECRI (ERCI?) the economic people was talking about the massive divergence between the household and business surveys and how the business is the one fucked with but always has to reconcile with the household and that the household was already in the shitter and those idiots wouldn't let him speak.
It's like a yell at one another fest.
Nof fucking wonder their viewership is rock bottom.

Tue, 01/14/2014 - 18:53 | Link to Comment 666
666's picture

I have a dream... where the gubmint creates another CCC like in the 1930s and the unemployed worked for food and shelter. Then I woke up and remembered unemployment benefits are automatically deposited into the person's bank account while he watches pay TV while lying in bed with his beer and chips.

Tue, 01/14/2014 - 19:02 | Link to Comment walküre
walküre's picture

At least the unemployed sitting on the couch is not costing us more. The unemployed sitting around on various aircraft carriers or sitting in barracks are costing us alot more in ammo (practice or mission, what's the difference) and fuel (to move equipment).

Government cannot afford to maintain either group without $75 billion a month life support from the Fed.

Rome is broke.

Tue, 01/14/2014 - 19:09 | Link to Comment kaiserhoff
kaiserhoff's picture

Glide slope of a crow bar.  That's an image I can use.

    Thanx, knucks;)

Tue, 01/14/2014 - 18:32 | Link to Comment boogerbently
boogerbently's picture

....So,

If we abolish unemployment compensation, we will have full employment !

Tue, 01/14/2014 - 18:35 | Link to Comment Leonardo Fibonacci2
Leonardo Fibonacci2's picture

No we will have more homeless people!

Tue, 01/14/2014 - 18:43 | Link to Comment Keyser
Keyser's picture

With progress like this, the unemployment rate will soon go negative. 

Tue, 01/14/2014 - 18:50 | Link to Comment knukles
knukles's picture

Yes!

The New Fully Employed Idle Homeless

Sat, 01/18/2014 - 13:42 | Link to Comment boogerbently
boogerbently's picture

Being paid 2X a minimum wage, to stay home.

Tue, 01/14/2014 - 18:41 | Link to Comment aVileRat
aVileRat's picture

If the 1970's USA & UK are anything to go by, expect to see the black economy explode in green shoots. Literally.

Would not be suprised if breaking bad becomes a case study for the 55% and growing over the next 3 years. Of course this would naturally play into their story arc for more gov. oversight and social workfare because the 'bush era' social fabric is "torn beyond repair".

 

Wed, 01/15/2014 - 02:07 | Link to Comment the0ther
the0ther's picture

I wasn't around then so please explain. Were there more whores? Gambling? Contract murders? Sure as shit could not have been more drugs than what we have now.

Tue, 01/14/2014 - 18:45 | Link to Comment Al Huxley
Al Huxley's picture

I don't think anybody really counts homeless people though - not in any statistic that's watched on a regular basis anyway, so that doesn't matter.  Anyway, its all a matter of categorization - start splitting the homeless into 'permanently homeless', 'voluntarily homeless', 'temporarily homeless', 'shelter-impaired', etc... and soon that stat will be also muddled to meaninglessness.

Tue, 01/14/2014 - 18:51 | Link to Comment knukles
knukles's picture

"shelter-impaired"

Al you're one sick puppy
XOXOXOXOXO

Tue, 01/14/2014 - 18:55 | Link to Comment akak
akak's picture

"Differently domiciled"

Tue, 01/14/2014 - 19:17 | Link to Comment kaiserhoff
kaiserhoff's picture

Futon challenged.

Did anyone, anywhere, ever get a good night's sleep on one of those damned things?

Tue, 01/14/2014 - 22:45 | Link to Comment Tijuana Donkey Show
Tijuana Donkey Show's picture

Yes, in my 20's, with a hot blonde, after being drained of every ounce of spare fluid in my body. I would have slept on a bed of nails after that....

Tue, 01/14/2014 - 19:30 | Link to Comment Reckonball
Reckonball's picture

"Residentially challenged"

Tue, 01/14/2014 - 19:31 | Link to Comment Anusocracy
Anusocracy's picture

Repatriated to nature.

Tue, 01/14/2014 - 19:34 | Link to Comment kaiserhoff
kaiserhoff's picture

As in "gone feral?"

Why does Detroit leap to mind?

Tue, 01/14/2014 - 19:33 | Link to Comment Strider52
Strider52's picture

The "Calorie-Challenged"

Tue, 01/14/2014 - 20:34 | Link to Comment GeezerGeek
GeezerGeek's picture

Homeless people are not counted when a Democrat is in the White House, only when a Republican is. Same as IRS scandals, DOJ scandals, NSA spuing, etc. That's why Christie is the main topic of conversation these days - he's a Republican, even if In Name Only. After all, tying up traffic and having a lady die is much more important than four Americans dying in Benghazi, or Border Patrol agents dying because of Fast & Furious. Gotta keep these things in perspective, Al.

Tue, 01/14/2014 - 21:11 | Link to Comment shermacman
shermacman's picture

The homeless are not burdened with the struggles of everyday life! Like Nancy Pelosi said, they can become artists! Like Harry Reid said, they can write cowboy poetry! Like the NYT said, they can have more time to be with their kidz! 

Tue, 01/14/2014 - 23:12 | Link to Comment Oleander
Oleander's picture

Show your EBT card and get in to museums for $2, at least in Ma. Great family time with the kiddies.

Tue, 01/14/2014 - 23:01 | Link to Comment hesk
hesk's picture

FEMA Camps for all. The cots are ready

Tue, 01/14/2014 - 18:36 | Link to Comment cougar_w
cougar_w's picture

Apparently. But if they do that, then they should rework the Census figures to exclude the unemployed. Places like L.A. don't need as many Representatives in Congress if everyone there is unemployeed.

Tue, 01/14/2014 - 18:54 | Link to Comment knukles
knukles's picture

Yeah, but LA's unemployed are represented by the truly incompetent... But that'd be a Max of Waters under the bridge, no?

 

Tue, 01/14/2014 - 19:57 | Link to Comment Nick Jihad
Nick Jihad's picture

If Maxine is dumb, what do you call people who assign powerful committee chairs by seniority?

Tue, 01/14/2014 - 20:38 | Link to Comment GeezerGeek
GeezerGeek's picture

Politicians. 

Wed, 01/15/2014 - 07:53 | Link to Comment Pumpkin
Pumpkin's picture

Well that not fair at all!  I am employed and I don't want any 'representatition either'!

Tue, 01/14/2014 - 18:37 | Link to Comment PopeRatzo
PopeRatzo's picture

Don't forget child labor.  Until we get those kids (and old people) working, we won't really have full employment.

And why in the 21st century should we need more people working harder for longer hours?  Didn't we have some sort of Industrial Revolution a while back?

Tue, 01/14/2014 - 18:53 | Link to Comment The Gooch
The Gooch's picture

There are a few "representatives" already pounding that drum. I can't wait until mine turn 12 and I put mom back to work. 

Earn your keep, bitchez.

 

Tue, 01/14/2014 - 20:04 | Link to Comment Nick Jihad
Nick Jihad's picture

We don't need the kid's labor. We just need their youthful, budding, dewy-cheeked credit, to borrow against.

Tue, 01/14/2014 - 18:33 | Link to Comment Sudden Debt
Sudden Debt's picture

3.5% is the lowest it can statisically go. But the way Obama is fixing the economy, people will need to start working 76 hours a week so the unemployment rate doesn't go negative...

Tue, 01/14/2014 - 18:42 | Link to Comment Haager
Haager's picture

And a lot of them won't be able to pay the rent - because thiis time wages will also go lower as does the number of unemployed (in the statistics). Short term bullish, medium long riots and long term it's destructive.

Tue, 01/14/2014 - 18:33 | Link to Comment cougar_w
cougar_w's picture

$6.4 billion? Why would anyone even blink. That's chump change. That's not even one POMO day.

Meh. Nobody is taking this shit even half serious anymore.

Tue, 01/14/2014 - 18:52 | Link to Comment Al Huxley
Al Huxley's picture

No fucking kidding.  $75 billion/month for their buddies in the FIs and they can't come up with 6.4 billion to keep the FSA docile?  Bad planning boys and girls - its only a matter of time until some dumb fuck has their 'let them eat cake' moment.

Tue, 01/14/2014 - 18:47 | Link to Comment LMAOLORI
LMAOLORI's picture

 

"Unemployment is falling."

 

Did you forget the sarc?


Because otherwise it depends on who you belive on those numbers...

False job numbers: Did the White House know?

http://nypost.com/2013/11/23/cooked-census-reported-to-obama-and-rahm/

 

ECONOMIC EXPERT HUNTER LEWIS: WE ARE IN A DEPRESSION!

http://www.breitbart.com/Big-Government/2014/01/13/Economic-Expert-Hunte...

Tue, 01/14/2014 - 22:17 | Link to Comment A Nanny Moose
A Nanny Moose's picture

Based on the .gov methods, you are no longer unemployed if you are not receiving benefits.

Tue, 01/14/2014 - 22:32 | Link to Comment akak
akak's picture

I guess those would be the "disemployed".

Tue, 01/14/2014 - 21:19 | Link to Comment rubiconsolutions
rubiconsolutions's picture

It won't be long until we reach the singularity. 0% unemployment and 100% unemployment at the same time. Ain't mathematics cool?

“There is a fifth dimension, beyond that which is known to man. It is a dimension as vast as space and as timeless as infinity. It is the middle ground between light and shadow, between science and superstition.” Rod Serling
Tue, 01/14/2014 - 21:33 | Link to Comment Winston Smith 2009
Winston Smith 2009's picture

"Unemployment is falling.  7 to 6.7.... soon to be 6.2."

Baldrick's cunning plan: Since unemployed no longer looking for work aren't counted, everyone should quit their job and not look for another. The financial system can then loan us all the money we want as if we were the federal government (which we are anyway, right, because we live in a democracy?) , the money backed by "the good faith and credit of the United States" (as usual). 100% unemployed no longer looking for work = 0% unemployment! /s

Tue, 01/14/2014 - 18:33 | Link to Comment NoDebt
NoDebt's picture

You seem surprised that a politician would play games with people's lives for minor politicial beneift.  Why?  Spill it.

(Are you one of the 1.4 Million?)

Tue, 01/14/2014 - 18:36 | Link to Comment boogerbently
boogerbently's picture

The Dems just want to ADD to the defict. They won't "trade", that's why the govt "shut down" last year. Not Cruz, it was the libs REFUSING to negotiate on obamacare.

They could get the GOP to agree to ANY amount, as long as that amount was cut from welfare.

Tue, 01/14/2014 - 18:43 | Link to Comment NoDebt
NoDebt's picture

The Democrats don't know or care what the deficit is.  Neither do the Republicans.  It simply doesn't affect them.  Only thing that affects them is their petty kabuki-theatre political squabbles where they trade seats every so often as they all tacitly agree on one underlying bedrock principle: MOAR.  More government, less of everything else.

Tue, 01/14/2014 - 20:01 | Link to Comment PoliticalRefuge...
PoliticalRefugeefromCalif.'s picture

It's like lifting yourself by your boots trying to pay off debt with money created by debt..

..greatest con ever played on humanity going on right here guys..

http://www.youtube.com/watch?v=iFDe5kUUyT0

Tue, 01/14/2014 - 20:07 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re: as long as that amount was cut from welfare

But, not any Red Team loved welfare going to:  Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState?

Tue, 01/14/2014 - 20:41 | Link to Comment GeezerGeek
GeezerGeek's picture

Corporate welfare is non-partisan. Both parties indulge.

Tue, 01/14/2014 - 20:51 | Link to Comment tempo
tempo's picture

The big lie, The FED cares about unemployment. No they must keep interest rates low in order to keep interest expense on Govt Debt from exploding. That's all folks.

Tue, 01/14/2014 - 18:30 | Link to Comment hedgeless_horseman
hedgeless_horseman's picture

 

 

Unemployment Rate Set To Plunge As Bill To Restore Jobless Benefits Fails To Pass Senate

In similiar news...

Japanese Cancer Rate Set To Plunge As Bill To Monitor Cancer Cases Fails To Pass The Diet

Tue, 01/14/2014 - 18:29 | Link to Comment Red Lenin
Red Lenin's picture

Lies.  Damned lies.  And statistics.

Tue, 01/14/2014 - 20:42 | Link to Comment GeezerGeek
GeezerGeek's picture

Liars. Damned liars. And politicians.

Tue, 01/14/2014 - 18:30 | Link to Comment buzzsaw99
buzzsaw99's picture

glad glad glad

Tue, 01/14/2014 - 18:30 | Link to Comment Sudden Debt
Sudden Debt's picture

And thus came a end of the 2007 crisis... BEDTIME KIDS! DON'T LET THE MONSTERS UNDER YOUR BED BITE YOUR ANCLES OFF!

Tue, 01/14/2014 - 18:31 | Link to Comment AGAU
AGAU's picture

Bullish?

Tue, 01/14/2014 - 18:31 | Link to Comment Rentier
Rentier's picture

Shame the Labor Participation Rate is falling just as fast...

Tue, 01/14/2014 - 18:39 | Link to Comment PopeRatzo
PopeRatzo's picture

Why would anyone believe higher Labor Participation Rates are actually good for society?  

Tue, 01/14/2014 - 18:47 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Because the peasants need to be reminded, constantly, that work and honesty is the path to salvation? 

Tue, 01/14/2014 - 18:32 | Link to Comment LawsofPhysics
LawsofPhysics's picture

It's a win-win, "unemployment drops" and the other arm of the same party will appear to be "obstructionist".

The sheep will eat this shit up.

Tue, 01/14/2014 - 18:34 | Link to Comment NoDebt
NoDebt's picture

I hate those guys in the Democrat-Lite party.

Tue, 01/14/2014 - 20:49 | Link to Comment GeezerGeek
GeezerGeek's picture

Once upon a time the Democrat-Lite party offered up a candidate who claimed to be a "choice, not an echo." Then he said stuff like "moderation in the pursuit of justice is no virtue", and "extremism in the defense of liberty is no vice." The echoes in the party took the rest of the election off. He lost big time. That's what Boehner and McConnell are: echoes. 

Tue, 01/14/2014 - 20:10 | Link to Comment XitSam
XitSam's picture

I came here to say just that but was going to title it lose-lose.

Tue, 01/14/2014 - 18:32 | Link to Comment GrinandBearit
GrinandBearit's picture

All these fuckers in government are all bought and paid for. 

How can anyone believe the diarrhea that comes out of any of their shit hole mouths? 

Tue, 01/14/2014 - 18:50 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re: How can anyone believe the diarrhea that comes out of any of their shit hole mouths?

Because, unfortunately, the human brain is designed to believe bullshit.  It's how humans stay "sane".   Bullshit allows the conflicting realities in the brain to simulatiously coexist.

Government + bullshit = ideology (Politics)
Morals + bullshit = religion.
Craft + bullshit = art
Sex + bullshit = romance.

Bullshit is very important for humans.    Bullshit, ask for it by name!

Tue, 01/14/2014 - 18:33 | Link to Comment q99x2
q99x2's picture

I was not employed or unemployed but I would like to see that many people getting money. What the hell all they have to do is enter it into a computer. Everyone knows nobody is getting paid back anyhow. Fuckin aye give the money to the people not Dimon and Blankfein.

Tue, 01/14/2014 - 18:51 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  Fuckin aye give the money to the people not Dimon and Blankfein.

No,  if you give it to the losers they'll just blow it on bling and it sends the wrong message: that hard work and effort are pointless.

The peasants have always needed other peasants to get punished for their laziness in order to motivate the rest of the dumbasses to work.

The system is working as designed and the most fit are surviving. 

Tue, 01/14/2014 - 18:51 | Link to Comment denverdolomte
denverdolomte's picture

$50 to someone who can find this person in reality. I'd happily show this person what the fist of a hardworking and non-system living American feels like.

Tue, 01/14/2014 - 18:59 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re:  I'd happily show this person what the fist of a hardworking and non-system living American feels like.

You must be one of them hippy commies that hates America, and the troops.

Tue, 01/14/2014 - 18:49 | Link to Comment Bangin7GramRocks
Bangin7GramRocks's picture

Agreed. These numbers are so silly compared to what the Fed prints every month. The gubmint spent more paying off the AIG "contracts" than it costs to feed the millions of hungry people. Sick fucking system we have!

Tue, 01/14/2014 - 18:58 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  Sick fucking system we have!

No, if you just gave money to the trash population they'd just blow it on bling.   The peasants need to be continously taught that life is hard and there's no such thing as a free lunch.   Once a peasants get's even a wif of welfare they think they are entitled to it; like the OldFarts with their socialist medicare scam.    Most of the losers never saved a dime in their lives, yet lived through the most prosperous time in history, and now expect unlimit hip replacements and a free motor scooter.   It's disgusting what has happened to this great and glorious country with all the peasants leaching off it. 

Tue, 01/14/2014 - 19:20 | Link to Comment walküre
walküre's picture

You probably are one of the group who honestly believe that they deserve every penny they worked so hard far either scamming others or taking big tax dollars from Uncle Sam for this or that redundant service they provided all their lives. Either redundant or extremely overpaid. Parasites come in many shapes and sizes.

It costs US.gov $6.4 billion per year to support 1.4 million citizens with a handout but prints $75 billion per month to support the lavish lifestyles of the 1%.

How do you even reconcile that anymore?

Tue, 01/14/2014 - 19:25 | Link to Comment denverdolomte
denverdolomte's picture

He/She can't walkure. A few posts lower he/she admits to living off those scams and enjoying it. This person apparently can't wrap their head around that this 20% or whatever they think is the "fittest" is actually MOAR of a government assisted whore than those on minor government assistance. 

Tue, 01/14/2014 - 20:23 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Everybody loves the socialist scam they are living off of.   I like mine,  know anybody leaching off of:  Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-Energy, Big-Ed, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState?.

Tue, 01/14/2014 - 22:36 | Link to Comment John_Coltrane
John_Coltrane's picture

Let's see $6.4x10^9 / 1.4 x 10^6 persons ~ 4 x 10^3 $/person = $4000/person/year (ain't scientific notation beautiful?).  That can't possibly be correct! No one can live on $4K/year, and some must have families to support too.  I have a feeling someone is fibbing on the real cost of the program.  Like all .gov programs, its hard to imagine ending this one will do any real damage.  The underground economy is huge making the labor participation rate quite useless.  Our goal as anarcho capitalists should be to make the entire economy underground and thus non-taxable.

Tue, 01/14/2014 - 18:50 | Link to Comment denverdolomte
denverdolomte's picture

Agreed. The issue is (I was on unemployment and still fighting them) that the Department of Labor is a scheme, imo. So when you apply to the scheme, they either approve or disapprove your claim and if approved you wait up to 6 weeks before your benefits click into effect.On average most people will get 1st run benefits for about 12 to 26 weeks depending on how much your claim was approved for. (I made over $55k annually and was only approved $14k total) When the initial claim runs out you are usually put on to the extended benefits claim at the same rate for another 26 weeks, this time it's the full 26 weeks not just what was adjusted from your previous salary. As of Dec. 2013, according to the B.ullshit of L.ies & S.hittistics average unemployed person is out of work for 36 weeks or a year and a half-ish.

So here's the scheme they are pulling now...at least what I am first hand seeing...last year when I switched to extended unemployment benefits everything was kosher. Well now that I ended up unemployed again and things got tight while looking I applied at the end of Oct. this is when they said they randomly overpaid me last year for $4660 total, then a week ago told me that the fund they paid me (even though they garnished the wages) were also overpayments since the government didn't extended unemployment benefits. SO they are basically now going to nail every person on those benefits for overpayments without those people having any knowledge of that fact. Not to mention the relative IQ of someone working in those offices is maybe around 15.

 

I don't know my friend, I resorted to growing plants and trading for things I need and am fortunate enough to have a small neighborhood economy that works with me, thought bills are becoming another story.

Tue, 01/14/2014 - 18:36 | Link to Comment Beatscape
Beatscape's picture

Harry "Keynes" Reid: "We're all dead in the long run."

Tue, 01/14/2014 - 18:39 | Link to Comment Manolito
Manolito's picture

Recovery is HERE !

Unemployment Rate down 6 %, right ?

The FED will now tapper faster then right ?

Time to put the money back in the bank, right ?

:O))) 

Tue, 01/14/2014 - 18:37 | Link to Comment 10mm
10mm's picture

All done by design. Because when the party is over they will beg uncle sugar to step in. And he will, he has a pen and a phone.  www.drudgereport.com 

Tue, 01/14/2014 - 18:37 | Link to Comment skipjack
skipjack's picture

No no, this is a good thing. It will just be more obvious who controls the government the next time some bailout bill comes up.

Tue, 01/14/2014 - 18:38 | Link to Comment Seasmoke
Seasmoke's picture

Im waiting for -2% unemployment figure, before I start looking for a job. 

Tue, 01/14/2014 - 18:41 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

How does this affect the top 20%, anyway?

Why do we need to have articles about the loser percentage of the bottom 80%.  

They aren't worth the bits transmitted about them. 

This country was based on survival-of-the-fittest.   The top 20% are the most fit.   Forget the rest. 

Tue, 01/14/2014 - 18:52 | Link to Comment LawsofPhysics
LawsofPhysics's picture

LOL!

"The top 20% are the most fit" - Really?  What product or service of real value did all those bankers and paper-pushers on Wall Street and in Government create again?  They are certainly in the top 20%.  I know a lot of engineers, doctors, farmers etc. who are not in the top 20%.

You seem like a "smart" guy,

can I interest you in financial "product" of mass destruction?

 

Tue, 01/14/2014 - 19:04 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Is there something about 20% (TWO UN TEE, PER CENT) that people can't comprehend?

That's 60 FUCKING million people?   The top TWENTY (TWO UN TEE, PER CENT) percent.   That are ALLOT of people.

They are the most fit by being the most RICH.  They OWN the FUCKING COUNTY.   What other measure is there?

Didn't everybody want a survival of the fittest society their entire lives?  

Well, just because the most fit were also the most cunning, duplicitious, ruthless, smart-n-savvy people doesn't mean the system didn't accomplish what you wanted.

Tue, 01/14/2014 - 19:31 | Link to Comment walküre
walküre's picture

Ok, give that 20% or 60 million people about 20% of the country and vacate the rest. Get the fuck off my reservation. When 80% realize they are not "fit" to compete and therefore redundant, the blowback against that group of 20% is going to be enormous.

Like I said, get the fuck off my reservation. Wipe your own ass, cook your own meals and grow your own food. Tough shit!

The 80% can work together to thrive, create their own currency of exchange that cannot be corrupted or manipulated.

Keep your fiat, your markets, your paper games and leave the rest of us alone. We'll manage just fine. It will be a pleasure not having to slave for the royals and servicing their debts, their ponzis and their liabilities.

80% of the country. 80% of the resources. Fresh start. Your bogus titles and claims will mean nothing, absolutely nothing when the Great Divide or as it shall be called, the great-divi-up happens.

What makes the 20% so special that they have 99% of the wealth? A ficticious and bogus wealth that they control? Their only saving grace is the reserve currency status to impoverish and oppress the rest of the world and 80% of plantation workers at home.

Blue light special. You can keep NYC and DC. Keep most of the Northeastern Corridor.

FYI, the flyover country club is part of the 80%. We take gold and silver as payment for our hard labor in the fields.

Go eat your paper, you paper queen.

Tue, 01/14/2014 - 20:16 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  What makes the 20% so special that they have 99% of the wealth? A ficticious and bogus wealth that they control?

Survival of the fittest means being smart-n-savvy enough to make the rules to ensure you win.

Boy, you survival of the fittest people seem to think people play by rules or something.

The assholes win.   If you don't like it,  you need to create a system of government where the assholes can't own the government itself.

But,  that's not possible. 

Wed, 01/15/2014 - 08:45 | Link to Comment PhilofOz
PhilofOz's picture

When the wheel finally turns, you'll discover that you are not one of the "fittest" afterall. You are damned. No escape for you, creep!

Tue, 01/14/2014 - 19:31 | Link to Comment LawsofPhysics
LawsofPhysics's picture

I think this troll mis-understands.  Own the country you say?  I agree, unfortunately, when fraud is the status quo, possession is the law.

Tue, 01/14/2014 - 20:21 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  I agree, unfortunately, when fraud is the status quo, possession is the law.

The assholes win.

Show of hand of how many people had Libertarian orgasms when Greenspan used to give his "glories of the big banks" speeches?

Yeah, I thought so.   Oh well,  survival of the fittest doesn't always work out how you think it will, does it?

Tue, 01/14/2014 - 20:24 | Link to Comment Nick Jihad
Nick Jihad's picture

As long as we're bringing Darwin into the conversation, he described "survival of the fittest" as those that reproduced most effectively. Now, from that perspective, do the well-to-do still comprise the to 20%?  Seems like the wealthy that you so envy, generally suffer from a poverty of progeny.

So, time to rethink what constitutes wealth? The future belongs to those who show up.

Tue, 01/14/2014 - 20:38 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re  generally suffer from a poverty of progeny.

Whose kids will rule the world?   The bottom 80% or the top 20%?

No,  it's survival of the fittest.   It just didn't turn out like the "Conservatives" fantasized it would.

Tue, 01/14/2014 - 18:50 | Link to Comment Yen Cross
Yen Cross's picture

      Good, now the FSA can start stealing from eachother instead of us. Even better, quit giving money to anything with a pulse, and instead give it to those truly in need.

Tue, 01/14/2014 - 18:49 | Link to Comment cooperbry
cooperbry's picture

"It almost makes one wonder if Reid isn't trying to sabotage his own legislation."

 

Seriously, they just want to spend money no matter what.  He added more junk to the bill.  Who cares where the money comes from, deficits don't matter remember (and that was from the red team)?

Tue, 01/14/2014 - 18:49 | Link to Comment Jeepers Creepers
Jeepers Creepers's picture

It's amazing how quickly peope find a job once they no longer get those benefits.  Unemployment has become the new welfare, except people now proudly talk about taking it because they say it's insurance they "paid" for.  i'd love to look at the math on that.  I guess every entitlement is insurance you're owed if you've ever paid taxes.

Tue, 01/14/2014 - 18:54 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Indeed, of course many of those people are in "jobs" or positions that don't pay any taxes...

Win-win I guess, starve the beast!

Tue, 01/14/2014 - 19:12 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re;  i'd love to look at the math on that. 

Most of the OldFarts will look you in the eye and tell you they paid for the SS and Medicare (and Medicare part D) they are leaching off of too.

Humans can create bullshit about anything. 

Half the country is on welfare of some sort.   That's what Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-Energy, Big-Ed, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState are.

(Disclaimer:   I love both the Big-Gov scams i'm living off of.   Cut the other guy's scam before mine). 

Tue, 01/14/2014 - 19:22 | Link to Comment Jeepers Creepers
Jeepers Creepers's picture

I don't have an issue with elderly people on Social Security and MediCare (though I'd like to see some sensible reforms) 

 

That's not what's destroying this country. 2 years of unemployment is a morphine drip that keeps the proles from seeing reality.  Then there's the SS disability scam, the food stamps, government housing, welfare, Obama phones, etc. 

 

I always feel its false flaggers that immediately want to talk about getting rid of Social Security and MEdiCare anytime somebody brings up any fiscal issue.

Tue, 01/14/2014 - 19:51 | Link to Comment Accounting101
Accounting101's picture

So, what you are saying is that unemployment benefits, cell phones and government housing are the things destroying this country? Here I thought it was the giant wealth extraction schemes perpretrated by the big banks, financial services industry and their puppets in federal offices since the early 1970's.

Of course I'm sure you have no idea that their puppets gave these corrupt entities $23 trillion of taxpayer money since 2008 alone. See, your radio only rails against cell phones and against powerless people.

You are part of the problem.

Wed, 01/15/2014 - 01:58 | Link to Comment the0ther
the0ther's picture

I like the cut of your jib

Tue, 01/14/2014 - 20:13 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Welfare is welfare.   The OldFarts are on welfare.

I never hear the Red Team lovers wanting to cut these scams either: Big-Ag, Big-MIC, Big-Road, Big-Water, Big-Airport, Big-House, Big-Fin, Big-OldFart, Big-OldFartHealthcare, Big-AntiDrug, & Big-PoliceState.

It only seems to be welfare when the peasants or "those people" are getting it.   Otherwise, it's magic ok socialist money.

Tue, 01/14/2014 - 20:37 | Link to Comment Nick Jihad
Nick Jihad's picture

I will say that I have a problem with wealthy old people taking benefits that are paid for by struggling young people.  My mom has pension from working as a part-time teacher, that would cost millions to purchase today as an annuity.  But far from any sense of gratitude or obligation, she thinks of herself as a charity case  -  an "elderly widow living on a fixed income".  Don't expect people like this to moderate their demands in any way.

Wed, 01/15/2014 - 01:56 | Link to Comment the0ther
the0ther's picture

Euthanize those olds please. Especially those pro life anti gay cocksucking-in-the-closet gray hairs. Their scorched earth politics are to blame for shit like this.

Tue, 01/14/2014 - 19:57 | Link to Comment Westcoastliberal
Westcoastliberal's picture

Still don't get it, do you JC.  There are NO FUCKING JOBS!

Tue, 01/14/2014 - 18:49 | Link to Comment Al Huxley
Al Huxley's picture

More evidence of strength in the economy - this will be just the ticket for the FED to 'taper' some more.  All these newly 'employed' people will be taking all that income they're apparently getting since no longer unemployed, and dumping it straight into the economy.

 

Seriously, how fucking dumb are the people who report these numbers?  Or how fucking dumb do they think the population is?  OR how fucking dumb IS the general population to swallow this kind of bullshit?

Tue, 01/14/2014 - 19:34 | Link to Comment surf0766
surf0766's picture

The population is stupid as shit. They will walk right into the chamber if you tell them to. 50 years of progressve education.

There is no critical thinking. The slightest thing distracts them . They deserve what they get.

Tue, 01/14/2014 - 18:50 | Link to Comment kurt
kurt's picture

Senator YourAssholeness may that fistula on your sphincter be worse than you think.

 

If you want stimulus. Give money to those WHO WILL SPEND IT!

No Agenda 21

No Trans Pacific Partnership

Traitors should STILL be hanged.

Tue, 01/14/2014 - 18:57 | Link to Comment IridiumRebel
IridiumRebel's picture

I feel more employed already!

Tue, 01/14/2014 - 19:02 | Link to Comment Yancey Ward
Yancey Ward's picture

I have to admit I have no clue any longer what the Democrats are doing here.  First, they basically let the extended benefits expire, and I thought the reason they did that was to be able to use the issue to bash Republicans over the head as they pivoted to the Obama issue du jour- inequality.  So, maybe Reid is deliberately sabotaging the extension in order to not lose it as an issue.

Tue, 01/14/2014 - 19:06 | Link to Comment Jeepers Creepers
Jeepers Creepers's picture

I don't think more unemployment benefits are a big winner politically, especially for those that have to get up and go to work in the morning.  And this isn't ending unemployment benefits, it's just ending an EXTENSION of the traditional unemployment benefit that was already absurd.  99 weeks is welfare, plain and simple.

 

How are Obama Democrats going to bitch about it unless they admit the economy is still shit?

Tue, 01/14/2014 - 20:44 | Link to Comment Nick Jihad
Nick Jihad's picture

I think you're missing a key point - extended UE benefits are only a winner for the Dems, as long as Republicans refuse to renew them. So Reid has to make offers that he knows the Republicans will not accept. Reid and Obama clearly believe that these fiscal crises benefit Dems politically, so he welcomes the chance for another game of legislative chicken.

Tue, 01/14/2014 - 19:06 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re:  Democrats are doing here

Don't forget,  in politics; you only win IF they other guy loses.   There's no win-win concept in politics.   It's all sociopaths, from top to bottom.

Tue, 01/14/2014 - 19:40 | Link to Comment hairball48
hairball48's picture

The sooner we lance this boil we call an economy, the better.

Tue, 01/14/2014 - 19:55 | Link to Comment Westcoastliberal
Westcoastliberal's picture

What I'd like to know is how they're "offsetting the cost" of the $75 Billion a month cash bonanza to the fucking banksters.  Short-sighted assholes!

Tue, 01/14/2014 - 20:35 | Link to Comment NOTaREALmerican
NOTaREALmerican's picture

Re:  $75 Billion a month cash bonanza to the fucking banksters.

That's not real money.    When you give money to real people it's real money.   When you give money to corporations it's an investment in our children's future.  

Wed, 01/15/2014 - 12:22 | Link to Comment RKDS
RKDS's picture

The folks downvoting you just don't get it.  Your posts are exactly what happens when they finally succeed in pushing a decent person over the edge.  There's this epiphany, where you realize the rules you tried to live by don't matter.  Everybody else is robbing and pillaging with no consequences, so what's the point of not joining in?  To be a sucker and be taken advantage of?  Crime really does pay!  We as a country are in deep shit when everybody who's getting fucked by the moneyed interests that control out government has that epiphany.  One can only hope that there's enough good in the American public to burn out the cancer and regain their senses before the whole place goes up in flames.

Tue, 01/14/2014 - 19:58 | Link to Comment JPM Hater001
JPM Hater001's picture

I'll bury this all the way at the botton...

Seems Nay Tis...

None of this is what anyone thinks it is.  Good theater though.

Can anyone say - Misdirection.

Now, why would you dismantle America's workforce...hmmm, perhaps you have plans to rebuild it, say, with some new and yet unknown technology?  Cut benefits just in time to prepare everyone to go back to work.

Again, none of this is what anyone thinks it is.

Wed, 01/15/2014 - 01:51 | Link to Comment the0ther
the0ther's picture

Please speak plainly. What is it you think this is distracting us from?

Tue, 01/14/2014 - 20:01 | Link to Comment loveyajimbo
loveyajimbo's picture

With Roach Reid doing his out of control Diva thing... nose FAR up Barry's ass... Can't find a few paltry billions in 10 fucking years??  Any republican that votes with him is a damn traitor.  Close down this Gov... like Solyndra and ObongoCare it is now nothing but a scam, and has been.  PS: maxine IS dumb... just above Norton, who is full retard and pelosi, who is full incontinent.

Tue, 01/14/2014 - 20:47 | Link to Comment MeBizarro
MeBizarro's picture

Real reason the GOP voted against this because Reid wanted to play hocus-pocus with Medicare provider cuts which the GOP oppose in any form (white elderly are overwhelmingly there biggest block of support) and wanted more cash for military retirees (another GOP support group).

Neither party currently gives two shits about federal spending. What appalls me is how increasingly how craven the GOP at the federal level is towards the working poor. Even people who work 40 hrs a week are 'takers' if they receive any form of govt assistance. Somebody needs to give a shit about these people who increasingly represent a larger group of Americans.

Tue, 01/14/2014 - 21:59 | Link to Comment roadhazard
roadhazard's picture

I can't wait to see the crime rate soar. People are going to eat and if it means taking your shit to do it so be it. Unemployment benefits equal $13 Bil per year. The MIC sucks up that much in a week or less. The Pentagon laffs.

Wed, 01/15/2014 - 00:41 | Link to Comment IridiumRebel
IridiumRebel's picture

Cut it all! As for UE, they got it down to 6.7%. Obviously there are jobs galore! What better time than now to trim the length? And crime? Rates are going down.

Wed, 01/15/2014 - 01:48 | Link to Comment the0ther
the0ther's picture

NYC kicked out all the poors so I don't think we'll be seeing much of that here.

Wed, 01/15/2014 - 01:04 | Link to Comment squexx
squexx's picture

$TRILLIONS missing from the Pentagram, $TRILLIONS missing from the Fed Reserve, etc... $75 billion a month propping up the market..........and they're too chicken shit to pony up $18 billion?!?!??

Wed, 01/15/2014 - 01:26 | Link to Comment putaipan
putaipan's picture

congrats zhedgers ... upon reading all the posts- you really do seem to understand. not as much libertarian 'let them eat famine' as i might have expected. we can beat this thing. no blue no red. my only regret was my one black velvet miscast 'red uppie' to yen cross... other than that- pretty good. my bad.

Wed, 01/15/2014 - 03:45 | Link to Comment Jabotinsky_USA
Jabotinsky_USA's picture

Excellent news!

 

This is the ideal situation: the more it drags on without anything getting passed the better.  

 

 

 

New movement: Occupy Senate calendar. Prevent them from 'helping' or passing new agenda items.

Do NOT follow this link or you will be banned from the site!