Debt Ceiling Deal Ignores Extended Unemployment Benefits

The debt deal that was reached last week has been met with opposition from both sides. It seems clear that no one, neither Republicans or Democrats were happy with what was finally agreed upon and the stock market didn’t seem to approve either.

One thing that was not addressed in the debt ceiling deal was any further extensions for unemployment benefits that will end in January of 2012. As it stands right now, anyone who’s 26 weeks of state unemployment benefits runs out after the end of this year (meaning in 2012) will NOT have them extended by the federal government.

It is unclear at this time whether President Obama will introduce legislation that will have those benefits extended. He would have until the end of 2011 to get something passed and that may be difficult with the Republicans only wanting cuts. Any extensions for unemployment would be considered “spending” and that is a dirty word in Washington right now.