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Unemployment payouts since 2008 at record level
Posted By -NO AUTHOR- On 10/30/2013 @ 6:24 pm In Money,U.S. | No Comments
(Washington Times) The federal government has paid out 881 million weekly unemployment benefit checks during the current economic slowdown, totaling $252 billion since 2008, according to a new memo released Wednesday by the House Ways and Means Committee.
During and after recessions, federal taxpayers step in to pick up the tab for long-term unemployment benefits when state benefits expire.
It’s considered to be a temporary program, but in this case it’s run for five years and has paid out far more than in the previous three recessions.
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