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Millions Say Goodbye to Unemployment Benefits

Millions Say Goodbye to Unemployment Benefits
(NBC) -- A life line for more than one million Americans who have been without work for more than six months expires Saturday. The extension of long term unemployment benefits failed to make its way into the bipartisan budget bill signed by President Obama Thursday night. The emergency benefits created in response to the recession five years ago, have given millions of Americans, unable to find work the cushion they needed, but come Saturday, long term unemployment insurance will disappear.
The benefits average around 300 dollars a week, and for the people losing that cash flow, it's going to hurt.

"Once their state benefits run out and that's enable them to you know pay their mortgages, pay for heating, buy food, those benefits will come to an abrupt end," said Christine Owens, with National Employment Law Project.

Economists warn the cuts won't just hurt the unemployed, it could slow the entire country's economic recovery. According to a new poll, 55% of Americans want Congress to extend the benefits, while only 33% do not.

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