Not The ‘Felícist’ Navidad For 2 Million

Federal jobless benefits, even after they were extended to 99 weeks, start running out this week. Some states supplement the federal unemployment insurance, so the actual numbers who will have no income is difficult to determine. Federal officials, however, estimate the number will easily reach 2 million within a few months.

Extensions of the insurance have been proposed several times, but each time, they have been blocked by congressional Republicans. They now say that they will consider no plan to help the jobless until the Bush tax increases are delayed for all income levels. The delay — and the GOP’s refusal to provide relief for the long-term unemployed — are necessary to reduce the deficit and create jobs, Republicans insist.

But the opposite may be more easy to justify. If 2 million checks are stopped, retail sales will reflect it, and we can expect a spike in foreclosures of both homes and retail commercial properties. And if tax cuts for the super-wealthy are continued, tax revenue will continue to lag, which is hardly a way to cut the deficit.

Who will be hurt most? People at almost all income levels from the upper-middle class on down will be affected. But hardest hit will be young people, blacks, Latinos and older people not yet old enough to collect other benefits.

[Photo Courtesy Franklin D. Roosevelt Presidential Library and Museum]

Subscribe today!

  • This field is for validation purposes and should be left unchanged.

Must Read

U.S. citizen detained overnight by ICE – they thought he was undocumented

Victor Landa July 6, 2017

By Victor Landa, NewsTaco (1.5 minute read)  This is startling news. Up until last night at a dinner conversation I believed that the idea that an American citizen would be […]

Willie Velásquez documentary is a lesson for Latinos on the importance of voting

NewsTaco May 9, 2017

*Why you should read this: Because today is Willie Velasquez day and a quick search of his name turned up no news stories. This piece, by Mercedes Olivera, is from […]

DIECIOCHO Podcast: Texas Rep. Rafael Anchia – Trump, Gerrymandering and Money

NewsTaco June 8, 2017

By Victor Landa, NewsTaco (1 minute read, 34 minute listen)  It’s safe to say that the just-ended Texas legislative session was the most acrimonious in memory. We can talk for […]

Pence will host White House Cinco de Mayo party

NewsTaco May 4, 2017

*Why you should read this: Because there’ll be no Cinco de Mayo celebration at the White House (I know, big deal – we’ll be spared the taco-bowl). VL By Hadas […]

Ted Cruz gets an earful in McAllen for July 4

Victor Landa July 5, 2017

*I’m posting this because it was mostly Latinos, organizing, protesting, making their voices heard. Everyone needs to know that Latinos in deep South Texas are standing up. VL By Patrick […]

Vietnam War veteran fears he could be deported

Victor Landa July 7, 2017

*This Vietnam veteran, born in Mexico, was awarded two Purple Hearts and given U.S. citizenship after his service. He’s misplaced his documents and after paying $345 the government wants more […]

Henry Cisneros: Why Can’t Americans See Latinos Are Country’s ‘Saving Grace’?

Victor Landa

*Good question. I think it’s because we’re not the ones telling our story. We need to fight for our narrative. VL By Suzanne Gamboa, NBC News (1.5 minute read)  SAN […]

Castro will not run for U.S. Senate

NewsTaco May 1, 2017

By Victor Laneda, NewsTaco (i.5 minute read)    Rep. Joaquin Castro (D-TX) says he will not be running for the U.S. Senate against Ted Cruz. Castro had promised to make […]