Should Congress extend unemployment benefits? Economics panel weighs in

If Congress doesn't extend unemployment benefits in the next few weeks, millions of jobless Americans will find themselves without a vital safety net in 2012.

Lawmakers must decide by the end of the year whether or not to once again extend the deadline to file for unemployment benefits, a measure that would cost around $44 billion. If the deadline isn't extended, up to five million people will stop getting checks next year, according to the U.S. Labor Department.

Today on American Morning, Christine Romans discusses the pros and cons of extending the measure with Stephen Moore, senior economics writer for the Wall Street Journal, and Bob Herbert, distinguished senior fellow from Demos.