Shedding Jobs

Today is new jobless day, and last week there were 542,000 new claims, a 16-year high. We're in a terrible spot, a spiral downward. Small businesses have trouble getting credit, they let people go; as job security lessens and money tightens, retail sales decrease; retail stores cut workers and the greater economy shrinks; causing more job loss and a move away from investment.

This is just awful. But a small measure of help could be on the way today.

The United States Senate will vote this week -- and very likely today -- on a bill that will extend unemployment insurance benefits by seven weeks for the jobless whose benefits have run out and a total of 13 weeks for those in states with an unemployment rate higher than six percent.

The bipartisan legislation -- cosponsors include Republicans Coleman, Smith, Snowe and Specter -- passed the House in October and will go immediately to President Bush's desk for his signature if passed this week.

"It all comes down to Main Street Americans who want to work, who want to pay their bills, who want to take care of their families; their well-being is tied to the well-being of our economy and our Nation," said Senator Sherrod Brown (D-OH) in fighting for the bill on the Senate floor Monday. "Unemployment insurance is the mechanism by which Americans looking for jobs but who have lost their jobs can sustain their families, can keep their financial commitments, can afford the tools needed to find a new job."

Senate Republicans can show that they give a damn about the regular person today. This passed the House 368-28. And funds from unemployment insurance extensions go directly into the larger economy. Hopefully they'll do the right thing today.