Economy needs unemployment benefits extended

Richard C. Trenkler, Las Vegas

Tuesday, April 27, 2010 | 2:02 a.m.

Americans who have exhausted their unemployment benefits — at a time of record unemployment — and all unemployed Americans, for that matter, need an unemployment extension through 2010.

Last fall, unemployment benefits ended for millions of Americans and the economy went downhill. Toward the end of last year, unemployment benefits were extended and the first quarter of 2010 saw a stabilization of the economy.

I believe this in large part is due to the extension of unemployment benefits.

Without an extension of unemployment benefits, the economy will founder with more foreclosures and greater demands on public services. Negativism will continue to grip employers and employees.

An extension of unemployment benefits would create stability in the economy. With stability, the employed would stop fearing layoffs and could reasonably believe the worst is over, leaving them to open up their pocketbooks again.

For employers, stability and increased spending by consumers would allow them to consider hiring.

With the lack of available jobs preventing people from returning to gainful employment, the extension of unemployment benefits would decrease pressure for services from state and local government, eliminate the negativism that pervades the country and directly stimulate economic recovery.