Monday, November 23, 2009

Unemployment compensation

I was reading about how the unemployment fund is bankrupt. Not a big surprise with all of the unemployed in the country with no end in sight. The article goes on the say that the unemployment premiums are going to go up to pay for the shortfall. So far makes sense, its an insurance policy with a loss problem so raise the premiums. The problem is not that the program failed, the problem is that the benefits keep getting extended by Congress. The program was not intended as a permanent solution. It was supposed to be a bridge to the next job or to general assistance. I say pull the benefit back to 12 weeks and let people seek out general assistance.

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