CBO: Unemployment Benefits Prevented Record Poverty Rate In 2009

Arthur Delaney
December 7, 2010

Extended unemployment insurance put in place to fight the recession
prevented the poverty rate from rising to 15.4 percent in 2009, a level
unseen since the 1960s, according to the Congressional Budget Office.

The government announced in September that that the 2009 poverty rate had risen to 14.3 percent from 13.2 percent the previous year. If Congress fails to reauthorize the benefits by the end of the month,
the federal programs will lapse and people laid of through no fault of
their own will be eligible only for the first 26 weeks of benefits.
Roughly two million people will be cut of from benefits by the end of
the year, according to the Labor Department.


#

tags