Payroll Accounting at Federal Level - Congress Will Not Extend Unemployment Benefits

Perhaps you've heard of the 99'ers in reference to those who've been unemployed. These are the folks who've been unemployed 99 weeks, and on the hundredth week they will not be able to receive unemployment benefits anymore as per the rules. Because unemployment has risen so high, many in Congress wish to extend these benefits a little longer. Unfortunately, the states can't afford it, and if the federal government won't chip in the game is over with.Now then, there was an interesting article recently on Dark Government website titled; "Extended Unemployment Benefits in Doubt," posted on November 27, 2010. The article was discussing both sides to the issue in the lame-ducky congress, but sided with the unemployed workers being outcaste, and cheated out of their unemployment benefits. The reality is that the government can't afford to pay for this, and it is my contention that this is the new reality.Congressman, however are arguing that if they don't give unemployment benefits for those who are been unemployed for a long time, it will hurt the economy, because they will not be able to spend money into the marketplace. It is my contention that line of thinking is complete incorrect and yet this is what is purported: "The result? Not just huge personal and familial hardships that scars the lives of young and old both economically and psychologically for years to come. But failure to renew extended benefits would also slow the recovery."Why is this nonsense you ask? It is simple, because the number is only 1/3 of 1% of our economy, but some would have you believe that capitalism needs government. 

Also incorrect - government is the problem with capitalism, in that we've allowed our government to maintain an unhealthy and incestuous relationship with business. Adam Smith warned us about this, and what does Margaret Thatcher say in her famous line - "Socialism works great until you run out of other people's money to spend."We cannot expect to keep paying people not to work, while simultaneously providing productivity and healthy free market economic theory. Besides government is acting like Robin Hood here, albeit with a twist; "Take from the rich, carve out a healthy commission and burn up 45% in administration, and then give a little to the poor!" It's completely flawed thinking. If we have the right to succeed in America, it must come with responsibility, namely; the right to fail, also.A friend of mine recently put it this way; "People need to wake up and not buy into this nonsense from the ultra-left socialists." Indeed, those are rather harsh terms, but this debate rages on, and it's something we must think about.Additional Reference:1.-Article in Wall Street Journal; "Spending Worries Put Jobless Benefits at Risk," by Janet Hook and Sara Murray - November 2010.