People,Clamoring,Against,Forec finance, share, loan People Clamoring Against Foreclosures, Want Extension of Une
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The US real estate industry is yet to pick up. Foreclosures are rampant, and so is unemployment. The Federal Government had come up with a program by which loans of homeowners were being modified, first on an experimental basis of three months, and then permanently; but its success rate has not been satisfactory.The economy is weak and protests against this weak economy have become very common. It started at Wall Street and is fast spreading to other areas. People have put up tents and camps to stay in and protest. Some are even moving in to foreclosed homes for foreclosure protests.Recently, protesters gathered in front of U.S. Senator Pat Toomeys office. They were demanding extension of unemployment benefits to all. Also they are clamoring for extension of tax cuts on payroll; both are set to expire in 2011.The people said that the rich represent only 1 %. In Pennsylvania, there are least 74,600 people who are unemployed. If the government does not extend benefits, or protect homes from being foreclosed upon, then there will be more suffering. The economy will be further drained this way.Roseanne Kolberg of Old Forge, a volunteer said that she is increasingly coming across families who are unemployed. Roxanne Pauline of NEPA Area Labor Federation, said that a person requires at least $400 in a week to sustain himself or herself in Pennsylvania. The average unemployment benefit that a person gets is lower at $265. She also said that, Congressional gridlock is putting at risk all NEPA. We cannot afford it."There have been similar demonstrations at the offices across the nation. Other rallies may be organized at Representative Tom Marino's office in Stroudsburg and Representative Lou Barletta's office in Hazleton.Don Noll said the payments on unemployment and the tax breaks for the middle class American families are indeed helpful. The money that the government doles out will be spent on services and goods. That will indeed help the economy. He said, I can guarantee that money will not be invested in hedge funds or on Wall Street. It will be used to pay the mortgage, buy medicine or buy food."Toomey had spent a large part of his working life in Wall Street and also in Hong Kong. Protesters hung photos of him on a red Chinas map and shouted slogans. They also had over sized boarding pass for a one-way flight to the Asian country; Toomeys office refused to comment on this.
People,Clamoring,Against,Forec