Weekly Address: Improving Economic Security by Strengthening and Modernizing the Unemployment Insura

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Source: White House

Weekly Address: Improving Economic Security by Strengthening and Modernizing the Unemployment Insurance System

In this week's address, the President spoke about the steps we need to take to modernize our unemployment insurance system. Our country has come a long way in the past seven years, with more than 14 million jobs created, and the unemployment rate cut in half. But, as our economy continues to change, there are still steps we need to take to ensure all Americans have the security and opportunity they deserve. In his address, the President laid out his plan to help more hardworking Americans get unemployment insurance, find a new job, and have some assurance that even if a new job pays less than their old one they will have some help paying the bills. These ideas are part of the President’s broader belief that everybody who works hard deserves their fair shot and the chance to get ahead.

Read more: https://www.whitehouse.gov/the-press-office/2016/01/16/weekly-address-improving-economic-security-strengthening-and-modernizing

[strategery blunder]

1. The meat of his proposal

If a hardworking American loses her job, regardless of what state she lives in, we should make sure she can get unemployment insurance and some help to retrain for her next job. If she’s been unemployed for a while, we should reach out to her and connect her with career counseling. And if she finds a new job that doesn’t pay as much as her old one, we should offer some wage insurance that helps her pay her bills. Under my plan, experienced workers who now make less than $50,000 could replace half of their lost wages – up to $10,000 over two years. It’s a way to give families some stability and encourage folks to rejoin the workforce – because we shouldn’t just be talking about unemployment; we should be talking about re-employment.

It's not a bad idea, but the limit (presumably there to limit the increase in payroll taxes that would be necessary to fund it) completely undercuts the idea of what the President wants to accomplish by underemployment insurance. 30-40K over 2 years would probably be more what he's looking for if he actually was serious about the proposal replacing the difference in income between losing a career and finding a McJob...then again I think he knows that nothing whatsoever that has anything with social insurance has a snowball's chance in hell of passing this Congress.

[BumRushDaShow]

2. K&R

And when I listened this morning, I forgot about something like UI as something that should be looked at and I do agree!

Thanks for posting!