Unemployment benefits expire - Fox 2 News Headlines

Unemployment benefits expire

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CHICAGO (FOX 32 News) -

More than 1 million Americans lost their unemployment benefits, Saturday, despite a budget being signed by President Obama.

The cut-off arrived over the weekend and that meant tens of thousands of people in Illinois will begin to go without their unemployment benefits.

No extension on unemployment benefits translates into roughly 64,000 Illinoisans not seeing a paycheck from the federal government.

Illinois is one of 8 states with the highest long term unemployment rate, according to the Labor Department.

With 9.2% of the state without a job, Illinoisans were receiving 73 weeks of unemployment benefits. After Saturday, only 26 weeks of benefits will be available to those who qualify.

The President along with other Democrats vow that an extension will be discussed in the new year, whereas Republicans feel shortening of these benefits is a positive for the economy.

"He will try to restore the unemployment benefits, saying we can't let these people hang out there, when times are just getting good for other people," FOX News' and conservative columnist Pat Buchanan said.

"The goal really should be to help people to get a job, a stable job and a job with good wages. That's really about economic growth, and also about support for jobs through things like perhaps making more generous the earned income tax credit, extending unemployment insurance isn't going to help," Columbia University Graduate School of Business Dean, Glenn Hubbard added.

This could be the first wave of people to lose their benefits. Another 89,000 are expected to run through theirs by the end of June of 2014, according to the Labor Department.

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