FROM CNN's Jack Cafferty:
The cost of long-term unemployment to the American taxpayers may soon be unsustainable.
DailyFinance.com reports that more than six million workers say they've been unemployed for more than 26 weeks. That means the long-term unemployed represent more than 40 percent of all the unemployed - one of the highest levels ever. The average length of unemployment for this group is nearly seven months.
The payment of unemployment benefits for longer and longer periods of time adds to the deficit. One expert points out that the high unemployment rate, plus longer time collecting jobless benefits, is a dangerous combination. He says the government could be on track to spend $250 billion a year on unemployment benefits alone.
Another downside is that some workers tend to lose their skills, which means they risk becoming unemployable. They either have to move down the employment ladder or get re-trained for other jobs.
No surprise a new poll suggests that jobs are a top concern for many Americans. A Gallup poll shows 31 percent of those surveyed say unemployment is the most important problem facing the country today.
And, when asked what they think will be the top problem facing the U.S. in 25 years, the top response is the federal budget deficit.
The irony here is the more the government spends on jobs programs and unemployment benefits now, the more our $12 trillion-plus national debt will continue to grow.
Here’s my question to you: What's the ultimate solution to long-term unemployment?
Interested to know which ones made it on air?
Lower the tax rates for small businesses! I can attest to the fact that last year my small business did exceedingly well.
I paid a six figure sum for my corporate annual tax. I would GLADLY have used much (if not ALL) of that to hire additional people. I already have a staff of 18 folks and we all work more than 40 hours a week. Business is great – and I want to grow.
Moe in Dallas writes:
Let's get the jobs back here in our country. Yes, I'm sure goods would cost a little more, but paying for unemployment and welfare and other benefits would go down a lot. Wouldn't it be nice to call about a bill or computer repair and be able to understand the other party?
Unemployment will be a major problem as long as we allow unfair trade and don't stop illegal immigration. We need to renegotiate trade agreements to take into account an unfair advantage to countries with no heath insurance, no social security, no worker protections, and no environmental regulations. It all contributes to the cost of manufacturing in the U.S.
Pat in Staten Island, New York writes:
The facilitation of private sector growth, via tax cuts, is what has worked in the past. Sadly, it seems all the growth lately has been in government employment. The pending health care bill is chock full of mandates that will cripple small businesses. The people who provide jobs, contrary to what this administration thinks, are not the enemy.
I do not think there is a government solution to the current problem. Life comes at us in cycles, some good and some not so good. It is up to each individual to persevere and make the best that they can from the situation. Each person should strive on enriching themselves in education and supporting others. I doubt there will ever be a government solution to self motivation. You either have it or you do not.