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Emergency Extended Unemployment Compensation Act of 2008

Location: Washington, DC

EMERGENCY EXTENDED UNEMPLOYMENT COMPENSATION ACT OF 2008 -- (House of Representatives - June 11, 2008)


Mr. PASCRELL. Mr. Speaker, I rise in strong support of H.R. 5749. The CBO, or the Congressional Budget Office, recently found that extending unemployment benefits is one of the most cost-effective, fastest acting forms of economic stimulus. As a matter of fact, it's estimated that every dollar spent on unemployment insurance boasts the economy by $1.64.

My friends, this is a systemic problem. This is not a footnote; this is not an ad lib; this is not something as an addendum. We need to face this problem head on. Forty percent of unemployed workers in 11 States have already exhausted their unemployment insurance. In New Jersey, it's projected that nearly 153,000 workers will deplete their regular unemployment benefits between now and the next several months. There are the unemployed. There are those that are underemployed, who have sought work, have found no work, they find themselves relegated to no States whatsoever. How dare anyone question this legislation while people are unemployed!


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