Two Million to Lose Unemployment Benefits Today

After 99 weeks on the rolls, approximately two million people will lose their unemployment insurance benefits as early as today.  Benefit amounts differ slightly by state but average just over $300 nationwide.  It’s hard to predict exactly how many will lose their benefits on a week by week basis because states also provide supplemental insurance but the Labor Department estimates that at least two million will lose their benefits by Christmas unless Congress decides to extend them once again.

So far Republicans and some conservative Democrats in Congress have been reticent to act unless the benefit extension can be defecit neutral – that is to say, unless it can be paid for without also increasing the debt.