Various attempts to get the unemployment extension passed have yielded no effort. This extension has been rejected and unfortunately, unemployed Americans have no choice but to turn towards their credit cards for their basic needs which includes paying off their utility bills.
The Senate, on Wednesday, met to vote on the issue of unemployment extension. In order to get this extension passed, Democrats needed a minimum of sixty votes. However, they to obtain the number of votes needed, leading to rejection on this extension.
These affected Americans are not willing to trust their government any longer. They are reaching out to their credit cards to meet all their expenses. This can have an adverse impact on the economy because it will lead to increased debts they will find tough to repay. With no job and no money, they seem to have no one to turn to for help.
One of the Californian readers said that till date the unemployed individuals were using the little financial aid they got from the government to at least stay afloat and pay their bills on time. However, now, with the unemployment extension getting rejected, not only do they have to turn to their credit cards for help, but also decide which of the bills they have on hand are the most essential for them. Adding to their woes are the increasing dues on their credit cards. Another Californian resident, currently struggling to stay afloat, said that the rejection of these unemployment benefits is going to leave him unable to repay the money he owes on his credit cards.
A resident from Texas, who is already reeling from the aftereffects of unemployment and is on the verge of losing his house, mentioned that he has been getting calls from his credit cards companies on a daily basis requesting him to pay up his outstanding amount.
The Senate, as well as the House, has met innumerable times over the last week to try to extend the unemployment benefits to the millions of Americans who are unemployed. The Act that would have enabled the extension of these benefits is called the American Jobs and Closing Tax Loopholes Act 2010.
A reader from New Jersey, who says they are dependent on the employment benefits being given to his fianc, said that with the extension now rejected, they are going to spiral into credit card debt they will find hard to repay.