99 Weeks: When Unemployment Benefits Run Out - 60 Minutes - CBS News
The proverbial other shoe is about to fall. The government is in debt up to it's eyeballs, and the extended benefits for the millions of unemployed are beginning to run out. What to do? I think the best thing to be done is suspend income tax for two years and stop the benefits for the unemployed. In this recession, which is really about to become a depression, there is no way for government to keep artificially supporting the spending habits of the unemployed. Paying benefits on causes those without jobs to work a little less at finding one, instead of working harder to improve their situation.
When benefits run out, and there has been nothing done to get government out of the way of business creation, you are going to see the numbers of unemployed skyrocket. No benefit money for them to spend, more businesses will fail without the artificial economy of the federal government. Hang on to your hats folks, it's going to be a rough road out of here.