Millions Of Unemployed Americans Now Live As Paupers
Millions Of Unemployed Americans Now Live As Paupers Even As Foreign Nations Use Sovereign Wealth Funds To Buy Up Huge Chunks Of American Infrastructure | |
Published on 10-26-2010 | Email To Friend Print Version |
By Micheal Snyder – BLN Contributing Writer Widespread long-term chronic unemployment was something that America was never supposed to see again. Our leaders promised us that the U.S. financial system was so strong that we would never have another “Great Depression” in our lifetimes. But then the financial crisis of 2008 happened. Unprecedented numbers of Americans started losing their jobs and the U.S. Congress did something that it had never done before. Congress decided to extend unemployment benefits all the way out to 99 weeks. Doing that has cost U.S. taxpayers approximately $100 billion dollars to this point, but we were promised that it was a “temporary” fix and that it would give displaced U.S. workers a chance to find new jobs. Surely any industrious American worker could get another job within 99 weeks, right? Wrong. Today, there are at least 1.5 milion “99ers” – those Americans that have completely exhausted all 99 weeks of unemployment benefits and that still do not have jobs. Sadly, as bad as that number sounds, it is likely to keep growing. Today, over one-third of all unemployed Americans have already been unemployed for at least one year. If this trend continues, we are going to end up with millions of “99ers”. 60 Minutes recently did a report on some of these “99ers”. Many of them are very highly educated and very highly qualified. If you have not seen this 60 Minutes report yet, you have got to take few minutes to sit down and watch it. This video is so shocking that many of you will have your jaws on the floor by the time you finish watching it…. http://www.youtube.com/watch?feature=player_embedded&v=CwpdGyIY2fQ |