U.S. Will Help States With Unemployment Insurance
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Treasury Secretary Paul H. O’Neill said today that the federal government would contribute to their country aboard the unemployment insurance programs to cope with the increasing number of layoffs after the terrorist attacks, and perhaps also benefits for workers without employment over a long period. Mr. O’Neill spoke a few hours after the Labor Department reported that new rights to unemployment rose last week, its highest level in more than nine years. The increase of 392000 to 450000 in the previous week was among the clearest indicators, such as the sequence of aftershocks, the attacks are lapping of the economy. Mr. O’Neill said that the Bush administration continues to examine a wide range of options for the management of the economy, including tax cuts would be targeted to individuals and businesses. But he said the debate within the administration was whether the transfer by the government should be an economic incentive package, the type of measures they should take, and that President Bush was probably on billing a specific package soon. ”This is something, Mr.’’said O’Neill, in an interview. ”It is clear that some things should be. For example, we must ensure that the state’s unemployment trust funds have enough money.” Mr. O’Neill described the state of New York, who said he was not satisfied sei”noch, they have enough money.” In addition, make sure that States would run out of money to pay unemployment pay, “said O’Neill,”we have the prospect of the duration of benefits.”He had no further information. Unemployment insurance is generally limited to 26 weeks. Mr. O’Neill said Bush took his advisers at a meeting on Wednesday to draw up detailed forecasts, which had an impact on the suggestion of packages of different sizes and composition would have on the economy and the loss of jobs. Mr. O’Neill said that whatever proposed by the administration is now verifying perhaps later, when the situation changes. He said there were already some thought to providing more aid for airlines, industry, which has received $ 5 billion in cash and the backing of $ 10 billion last week, credit guarantees to prevent the threat posed by the immediate suspension of bankruptcy. ”It is a long and lasting peace,”Sir, “said O’Neill. ”We should perhaps come back and see you all again. In the case of airlines, the direct infusion of cash benefits for cash, which is a good thing, but it may very well be that something else is needed.” Mr. O’Neill said that the airline was important to the industry, because much of the economy, the problems related to the sharp decline in air travel, a problem, Mr. Bush has tried, today announced new proposals for security. But Mr. O’Neill said it was also important for the manner in which the sequence of aftershocks, psychological attacks, all types of control over economic activity. And he said Bush believed that the economy was crucial for the realization of the campaign against terrorism. The president hat”ein strong emotion, a stronger economy that makes it easier, Mr’’said O’Neill. The administration and the leaders of both parties in Congress want to parties to a stimulus plan in the next week or two, said today Congressional aid. The White House and Congress have so long awaited more data on the economy, of course, but today’s report on the demands of the job, as well as other new figures increased the likelihood that the Countries in the vicinity or in a recession. The Congressional Budget Office reports today that the budget surplus of the Confederation for the year ending Sunday, about 121 billion, $ 32 billion of the estimated value of only one month. The Budget Office, said the decline was mainly the result of the weak economy, both before and after the terrorist attacks of September 11. Lawrence B. Lindsey, Mr. Bush’s chief economic adviser, said the White House was still at an early stage of the implementation process in concrete proposals and did not want to hurry in developing a plan, especially with the economic outlook still in motion. It was to identify concrete measures to management, are entering the stimulus package. |