[Congressional Record (Bound Edition), Volume 156 (2010), Part 13]
[House]
[Page 18480]
[From the U.S. Government Publishing Office, www.gpo.gov]




          JEC UNEMPLOYMENT INSURANCE REPORT MAKES STRONG CASE

  (Mrs. MALONEY asked and was given permission to address the House for 
1 minute.)
  Mrs. MALONEY. Mr. Speaker, last night the unemployment benefits 
expired for 2 million Americans, including over 159,000 New Yorkers and 
95,000 residents of New York City. The Joint Economic Committee, which 
I chair, released a report that finds that there could be serious 
unintended consequences if Congress should not renew this vital 
program; consequences not just for 2 million Americans who lost their 
jobs, but for our larger economy as well.
  Failing to renew the program with its 99-week cap could result in the 
loss of over 1 million jobs over the next year, wiping out almost a 
year's worth of hard-won progress. Failing to preserve unemployment 
benefits would also drain the economy of $80 billion in purchasing 
power just as our fragile economy is recovering.
  At a time when there are five unemployed Americans for every job 
opening, failing to extend unemployment benefits goes against both all 
common sense and economic sense. We must support and extend this vital 
renewal of this program.

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