Unemployment benefits extended through 2011; more help needed

On Friday, President Obama signed a large tax cut bill that includes an extension of extended unemployment benefits through the end of 2011. While the extension of those benefits was sorely needed, it is unfortunate that the bill did not include additional spending measures that would stimulate the economy. As further evidence that the Great Recession continues, the latest report shows that North Carolina lost 12,500 jobs in November, more than any other state, pushing the statewide unemployment rate to 9.7 percent. Without further assistance, the economy is unlikely to grow enough to create the needed amount of jobs. And 2011 state budget cuts, which are starting to be discussed, are likely to make things even worse.