[Congressional Record (Bound Edition), Volume 155 (2009), Part 17]
[Extensions of Remarks]
[Page 22910]
[From the U.S. Government Publishing Office, www.gpo.gov]




                          PERSONAL EXPLANATION

                                 ______
                                 

                       HON. CHRISTOPHER P. CARNEY

                            of pennsylvania

                    in the house of representatives

                      Tuesday, September 29, 2009

  Mr. CARNEY. Madam Speaker, I was unable to be here to cast my vote in 
support for the Unemployment Compensation Extension Act, but I strongly 
support the targeted extension of unemployment benefits provided by 
H.R. 3548.
  The 314,000 Americans set to lose unemployment insurance this month--
and the more than 1 million who will exhaust their benefits by the end 
of the year--need help to avert an even bigger financial tragedy, such 
as the loss of their home or a medical bankruptcy, which would ripple 
out into our larger economy.
  Extending these benefits is a cost-effective and efficient way to 
stimulate the economy. Every $1 spent on unemployment benefits 
generates $1.63 in new economic demand. Not only does it help the 
unemployed worker stay on top of their bills, it keeps capital flowing 
through small businesses and keeps the larger economy on the right 
track to recovery.

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