The Fiscal Cliff and Debt Ceiling Duo: What Will Happen to U S Jobs
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January 7, 2013 - 4:41am
Written by Bill Fay
The Fiscal Cliff and Debt Ceiling Duo: What Will Happen to U.S. Jobs?
The legislation that kept the United States from going over the fiscal cliff was fool's gold for the 12 million Americans standing in the unemployment line.
On the one hand, they had reason to rejoice: The bill provides an additional 28 weeks of unemployment compensation from the federal government. Money in the pocket is always a good thing.
On the other hand, the bill has created so many economic uncertainties that they probably aren't any closer to getting a job. Specifically, the new legislation didn't solve the problem it originally was presented, namely how to reduce the federal deficit.
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