It's pretty obvious what the Obama administration and the Democrats have done so far has had little to no effect on unemployment. If the EPA starts enforcing some kind of cap and trade, energy prices will rise sharply just like the did in the EU.Long-term unemployment rate still sky-high
By Charles Riley, staff reporter January 27, 2011: 5:08 PM ET
NEW YORK (CNNMoney) -- The number of Americans suffering through long-term unemployment remains stubbornly high, according to a study released Thursday.
More than 30% of the 14 million Americans who were on unemployment rolls in December have been there longer than a year, the Pew Charitable Trusts said, an increase of 25% over last year.
The totals are eye-popping, and translate into more than 4.2 million people, or roughly the total population of Kentucky.
But there is a glimmer of good news, as December's total is a decrease of 200,000 from August 2010.
But for the unemployed, those figures offer little relief. The amount of federal money spent on unemployment insurance benefits is set to decline, according to data from the Congressional Budget Office. Total federal spending on both long- and short-term unemployment benefits will fall to $129 billion in fiscal year 2011, a $30 billion decrease from the previous year.
Long-term unemployment rate still sky-high - Jan. 27, 2011