Friday, April 16, 2010

B.A.F.F.L.E.D. Economics

Recovery Returns

Soon after the U.S. House of Representatives and Senate chambers passed an $18 billion bill to recover unemployment benefits across the nation, President Obama signed the bill into law. This comes after millions of Americans went without benefits, because of a filibuster on the Senate floor about a month ago.

The legislation restores Medicare payments to doctors who were in jeopardy of being compensated, and allows people to reapply for long-term unemployment benefits, receiving missed checks retroactively. This temporary fix is hoped to be a saving grace to those on the hustle each day to recoup the lifestyles they found compromised by our recent economic conditions.

Obama stated “Millions of Americans who lost their jobs in this economic crisis depend on unemployment and health insurance benefits to get by as they look for work and get themselves back on their feet.

Hopefully this spark can ignite the economy in the right direction, creating and reviving jobs on all fronts. The bill increases the nation’s deficit, but is key as a short-term fix.

For more details, check out: Chicago Sun-Times

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