Compose a 250 words essay on Discussion Paper 2: Unemployment. Needs to be plagiarism free!
25). Unemployment jeopardizes “private sector earnings and personal income [which] spell disaster for state and local budgets” (Eley, 2009, par. 14). In fact, the first quarter of 2009 saw a 26% decrease in state level income collections (Nelson A. Rockefeller Institute of Government, as cited in Ibid), which predictably will be worsened by ‘declining revenue from real estate and sales taxes’ (par. 16). It “will punch still deeper holes in the budgets of many states [and] increases the risk that state budget agreements for 2009-10 will not close budget gaps completely, and that states will need to make midyear budget cuts” (Ibid). Furthermore, claims for jobless benefits will surely rise, widening budget gaps.
With a deficit budget, social services would surely suffer. As what had happened, “many of these workers, without paychecks or medical insurance and having exhausted their unemployment benefits, are confronted with foreclosure on their homes, evictions and the threat of destitution” (Damon, 2008, par. 2). Even services for learning are affected. As a local resident in Maryland, Patricia H. Fisher, stated: “I am distressed that the library, which is seeing increased usage due to the economy, will have to limit its hours, services and maybe locations just when the community needs those services the most” (Fisher, as cited in Eley, 2009, par. 12).
Damon, Andre. (2008). Long-term unemployment in the US climbs 37 percent in one year. World Socialist Web Site. 8 July Retrieved 9 July 2009 from http:// Barry. (2009). US unemployment rate at 7.2 percent after biggest yearly job loss since 1945. World Socialist Web Site. 10 January Retrieved 9 July 2009 from http:// rises in US at slower pace: economists. (2009). The Financial