Thursday, December 2, 2010

Unemployment benefits

It is really sad to see unemployment benefits getting expired for Four million Americans right when holiday season is kicking off. I wish our politicians more focussed on real people's issues instead of just fighting each other on useless partisan issues like tax break extension and other issues.

I liked optimism of President Obama about this unemployment and other issues which are under negotiation table. I guess he is very cool and confident about resolving these issues before congress breaks away for holidays. If I was on his place, I would have been critical about Republicans and given them my piece of mind. Well, that could be the reason I am not President.

Another thought about these unemployment benefits. Apparently these are expiring for around four million people who are still unemployed after one and half years. Even though I am in favor of extending due to holidays at this time, but there has to be another solution. Obviously, other solution is that get these four million people jobs. But apparently we don't have jobs. What I heard and read about unemployment in this recession is that it is even worse due to extremely bad real estate. Due to bad real estate,  many of these peoples are stuck at same place and are unable to move to places which might have jobs for them.

What do we do now... Fed is doing everything in their power to boost real estate market. But they are at the most able to hold real estate prices. Without their support for mortgage backed security, mortgage rates could be easily double of what they are right now and may be real estate prices further half of what they are right now.

However, in my view government should start encouraging people to move. Give them some benefit or incentive so they can move and go to places where there are higher chances of getting job. Make this sub-prime mortgage easier to ditch and move to places where there is demand for their skills. Start some kind of program where if they move, say more than 1000 miles and are able to get job within 30/60 days they will be gives some extra benefit.. May be 10K moving bonus.

What else could be done.. another idea.. offshore your human resources.. Americans are trained to be excellent sales/marketing and managers. May be start some program, let us say instead of paying them unemployment benefits at home, government will give them half the amount if they decide to move to Middle east, India, China, Brazil, Russia or any country outside of USA. That way these people will see the world and gain some good experience and even help the country where they will move. At this moment, with all of our economies interlocked, any nations' prosperity will percolate to rest of the countries. That way we may have even better world!!

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