Washington (CNN) – The President’s top economic adviser warned Republicans that threatening default on the debt limit was risking political peril.
The White House's Director of the National Economic Council told CNN's Candy Crowley on Sunday morning that Republicans not only risk doing irreparable damage to the economy if they were to risk the full faith and credit of the United States in another political showdown with the Obama administration, but they could also destroy their chances at the polls in November.
(CNN) - President Barack Obama on Saturday called for bipartisan legislation to extend unemployment insurance, an all-important benefit for the longtime out-of-work.
"Just a few days after Christmas, more than 1 million of our fellow Americans lost a vital economic lifeline - the temporary insurance that helps folks make ends meet while they look for a job," Obama said in his weekly address.
(CNN) - Congress will start the new year with an old fight: whether to extend jobless benefits for 1.3 million long-term unemployed.
They expired last week when lawmakers failed to continue a 2008 recession-era federal law providing nearly a year of benefits, paid for by U.S. taxpayers, that kicked in when state jobless benefits ran out.FULL STORY
(CNN) - Long-term unemployment benefits for 1.3 million Americans expired Saturday after Congress failed to pass an extension. Reinstating those benefits is expected to be one of the first priorities for congressional Democrats in the new year.
“Extending unemployment insurance is the right thing to do for millions of Americans who are trying to support their families,” Democratic National Committee chairwoman and Florida Rep. Debbie Wasserman Schultz said in a statement Saturday. “What makes matters worse, the loss of benefits comes just a few days after the holidays.”
(CNNMoney) - Michelle Marshall is one of the 1.3 million long-term unemployed Americans who will lose unemployment benefits Saturday.
Marshall, 56, has been out of work for a year, since she lost an administrative assistant job that paid her $44,000 per year.
She started collecting $624 each week in New Jersey unemployment benefits, but the state benefits ran out after 26 weeks. When federal benefits kicked in, she collected $521.
But Marshall will stop getting these checks next week.FULL STORY
(CNN) - The liberal nonprofit group Americans United for Change is using a new TV ad to accuse Republicans of ruining Christmas for the 1.3 million Americans whose unemployment benefits are about to stop.
“To the 1.3 million Americans losing benefits, Merry Christmas, from the GOP,” the ad says. The spot will run Thursday and Friday on national cable TV networks, including CNN, the group said.
(CNN) - Kentucky Republican and potential 2016 presidential candidate Sen. Rand Paul said Sunday extending unemployment benefits past what the U.S. federal government has already paid would be a "disservice" to workers.
"I do support unemployment benefits for the 26 weeks that they're paid for. If you extend it beyond that, you do a disservice to these workers," he said, appearing on "Fox News Sunday."
(CNN) - President Barack Obama continued to put pressure on Republicans on Saturday to extend unemployment benefits while Republican Rep. Renee Ellmers of North Carolina heaped criticism on the Affordable Care Act.
Their comments came in weekly addresses.
New York (CNNMoney) - Has the job market finally hit its stride? Hiring continued at a solid pace in November, and the unemployment rate fell for the right reasons.
The U.S. economy added 203,000 jobs in November. Economists surveyed by CNNMoney had predicted payroll gains of 183,000 jobs.FULL STORY
New York (CNNMoney) - What shutdown? Job growth unexpectedly surged in October, even as the federal government closed its doors for 16 days.
The U.S. economy added 204,000 jobs, according to the Bureau of Labor Statistics. That was well above economists' expectations. There was more good news about hiring during the late summer. Revisions showed an extra 60,000 jobs were created in August and September.FULL STORY