Report: 2 Million May Lose Jobless Benefits Under Fiscal Cliff

Wednesday, 28 Nov 2012 01:45 PM

By Todd Beamon

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
Nearly 2 million people will lose unemployment benefits next month should President Barack Obama and Capitol Hill legislators not reach a deal to avert the fiscal cliff.

Those jobless benefits, estimated at $30 billion in the coming year, are expected to expire on Dec. 29, the Los Angeles Times reports.

An additional 1 million unemployed workers are expected to lose their benefits by March.

"There's going to be millions of us who, basically, will be out in the streets," said Lis De Bats, 54, resident of Agoura Hills, Calif., told the Times. She was laid off in January from a job as a new-home sales manager.

California has a program that provides emergency federal jobless assistance of as much as $450 a week. The program, which began a little more than four years ago, is also scheduled to expire on Dec. 29.

"I'd lose my home and everything that goes along with it,” De Bats told the Times. “I've used up all my resources."

So far, Capitol Hill and the White House have not reached an agreement on whether to extend unemployment benefits, keep the Bush-era payroll tax cuts – or allow automatic federal spending reductions to kick in under sequestration – before Congress adjourns at the end of the year, the Times reports.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Retype Email:
Zip Code:
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Atheist Sues After New Jersey Rejects License Plate

Friday, 18 Apr 2014 22:31 PM

Shannon Moran, of Maurice River Township has filed a lawsuit against the state Motor Vehicle Commission, saying it viola . . .

South Carolina Mayor Fires Lesbian Police Chief

Friday, 18 Apr 2014 22:20 PM

A South Carolina mayor fired his 20-year veteran chief of police, who is a lesbian, reportedly declaring in a recorded p . . .

Discovery Channel Everest Jump in Doubt After Deadly Avalanche

Friday, 18 Apr 2014 22:12 PM

The Everest Jump Live special that Discovery Channel had planned for May 11 is in question following a deadly avalanch . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved