Jan. 7, 2003
PROVISION OF A 5-MONTH EXTENSION OF THE TEMPORARY EXTENDED UNEMPLOYMENT COMPENSATION ACT OF 2002
Ms. CANTWELL. Mr. President, reserving the right to object, it is important that we take care of these individuals who will be left out without the amendment by Senator Clinton. The issue is, unemployment benefits not only help these individuals who have lost their jobs through no fault of their ownwhether it is the Boeing Company in a downturn or other people impacted by 9/11 who have lost their jobs and need these unemployment benefitsbut more importantly, unemployment benefits are also an economic stimulus. Economists have said every $1 spent on unemployment insurance generates $2.15 of economic stimulus.
I can think of no better package for us to support in a bipartisan fashion than putting more dollars into our local economies that are hurting. I know our State, with one of the highest unemployment rates in the country, has an economic forecast that says the next 6 months will not get any better. So if not today, I say to my colleagues on the other side of the aisle, when will we realize this is an economic stimulus package that we must support.
Several Senators addressed the Chair.