The first casualties of going over the so-called “fiscal cliff” will be more than two million unemployed Americans who depend on extended emergency unemployment benefits. While most of the negative effects of going off the cliff, like the tax hikes and spending cuts, won’t be felt until further out into the future, the expiration of unemployment benefits will be an immediate shock to millions of Americans and the economy. And they are set to expire on Saturday, meaning Republicans in the House will already miss the deadline to extend them, since Speaker of the House Jon Boehner is waiting until Sunday to reconvene the House.
The unemployed in America have no lobbyists like the defense contractors, and have no interest groups like the billionaire banksters – so it’s no wonder why they will be the first casualties in the fiscal cliff showdown. The tragic irony here is these unemployed Americans, when they are receiving unemployment benefits and spending money in our economy, are the real job creators – and not rich guys like Mitt Romney who stash their money in offshore bank accounts and refuse to reinvest in the American economy.
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