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Congress Stalled As 2 Million Lose Jobless Benefits
When members of Congress return from their Fourth of July break Monday, they'll find a big challenge waiting for them right where they left it. The issue is unemployment — specifically an extension of benefits for people who've lost their jobs. The debate has turned into a high-stakes, election-year stand-off over deficits.
More than 2 million people have had their benefits cut off in the six-plus weeks since lawmakers began debating the bill.
Ever since the Eisenhower administration, Congress has approved jobless benefits that go beyond the usual half-year for up to two years of benefits during times of high unemployment.
Democrats want to extend those now-expired benefits another six months. At about $300 a week per beneficiary, that would cost around $34 billion. All but two Senate Republicans say they won't extend those expired benefits unless Congress cuts spending elsewhere; they say they don't want to add to the deficit.
Shortly before he voted to block consideration of an extension, Massachusetts Sen. Scott Brown said the issue was about "not burdening future generations."
"That will allow us to provide for the needs of our citizens without putting more debt on the credit card," he said. "It's the checking account versus the credit card."
Democrats argue that Brown and 11 other Republicans had no problem adding $33 billion to the deficit to fund the wars in Iraq and Afghanistan.
The other argument Democrats make is a moral one: With very few jobs to be had out there, the larger society should provide long-term unemployment benefits until the job situation gets better.
Plus, they say, you don't get people back to work through austerity measures. As Majority Leader Harry Reid recently pointed out, the money that's paid out for unemployment benefits gets spent immediately — spurring $1.60 worth of economic activity for every dollar that's spent.
"These are monies that are creating jobs," he said. "We are doing something that is very American — very American — and that is helping people at a time of emergency."
There is a ray of hope for people who have already exhausted the standard 26 weeks of unemployment benefits, however. Democrats have enlisted two Republicans to their side and now are just one vote short of the 60 they'd need to break a GOP filibuster. And that one vote could come from the West Virginia seat opened up by the death of Democrat Robert Byrd; his replacement may be appointed as soon as next week.
.......
How about cutting their benefits?????? Anyone else have ideas of where to cut the extra dough so the unemployed can get help?
More than 2 million people have had their benefits cut off in the six-plus weeks since lawmakers began debating the bill.
Ever since the Eisenhower administration, Congress has approved jobless benefits that go beyond the usual half-year for up to two years of benefits during times of high unemployment.
Democrats want to extend those now-expired benefits another six months. At about $300 a week per beneficiary, that would cost around $34 billion. All but two Senate Republicans say they won't extend those expired benefits unless Congress cuts spending elsewhere; they say they don't want to add to the deficit.
Shortly before he voted to block consideration of an extension, Massachusetts Sen. Scott Brown said the issue was about "not burdening future generations."
"That will allow us to provide for the needs of our citizens without putting more debt on the credit card," he said. "It's the checking account versus the credit card."
Democrats argue that Brown and 11 other Republicans had no problem adding $33 billion to the deficit to fund the wars in Iraq and Afghanistan.
The other argument Democrats make is a moral one: With very few jobs to be had out there, the larger society should provide long-term unemployment benefits until the job situation gets better.
Plus, they say, you don't get people back to work through austerity measures. As Majority Leader Harry Reid recently pointed out, the money that's paid out for unemployment benefits gets spent immediately — spurring $1.60 worth of economic activity for every dollar that's spent.
"These are monies that are creating jobs," he said. "We are doing something that is very American — very American — and that is helping people at a time of emergency."
There is a ray of hope for people who have already exhausted the standard 26 weeks of unemployment benefits, however. Democrats have enlisted two Republicans to their side and now are just one vote short of the 60 they'd need to break a GOP filibuster. And that one vote could come from the West Virginia seat opened up by the death of Democrat Robert Byrd; his replacement may be appointed as soon as next week.
.......
How about cutting their benefits?????? Anyone else have ideas of where to cut the extra dough so the unemployed can get help?
Well, kind of. It appears GM is paying back with a Government Ponzi Scheme
“ During an April 20 hearing on Capital Hill, Sen. Tom Carper, (D-Del.) asked some pointed questions of Neil Barofsky, the “special watch dog” on the Wall Street Bailout, aka, TARP.
“It’s good news in that they’re reducing their debt,” Barofsky said of the accelerated GM payments, “but they’re doing it by taking other available TARP money.”…
“It sounds like it’s kind of like taking money out of one pocket and putting in the other,” said Carper, who got a nod of agreement from Barofsky.
“The way that payment is going to be made is by drawing down on an equity facility of other TARP money.”
This prompted a stern letter from Senator Charles Grassley (R-IA), who backed the bailouts, to Treasury Secretary Tim Geithner about the shell game being played by the Obama administration and GM (via Yid with Lid, emphases mine):
General Motors (GM) yesterday announced that it repaid its TARP loans. I am concerned, however, that this announcement is not what it seems. In fact, it appears to be nothing more than an elaborate TARP money shuffle.”
http://www.google.com/search?sourceid=navclient&aq=0h&oq=G&ie=UTF-8&rlz=1T4ADRA_enUS375US375&q=gmc+paying+back+bail+out
“ During an April 20 hearing on Capital Hill, Sen. Tom Carper, (D-Del.) asked some pointed questions of Neil Barofsky, the “special watch dog” on the Wall Street Bailout, aka, TARP.
“It’s good news in that they’re reducing their debt,” Barofsky said of the accelerated GM payments, “but they’re doing it by taking other available TARP money.”…
“It sounds like it’s kind of like taking money out of one pocket and putting in the other,” said Carper, who got a nod of agreement from Barofsky.
“The way that payment is going to be made is by drawing down on an equity facility of other TARP money.”
This prompted a stern letter from Senator Charles Grassley (R-IA), who backed the bailouts, to Treasury Secretary Tim Geithner about the shell game being played by the Obama administration and GM (via Yid with Lid, emphases mine):
General Motors (GM) yesterday announced that it repaid its TARP loans. I am concerned, however, that this announcement is not what it seems. In fact, it appears to be nothing more than an elaborate TARP money shuffle.”
http://www.google.com/search?sourceid=navclient&aq=0h&oq=G&ie=UTF-8&rlz=1T4ADRA_enUS375US375&q=gmc+paying+back+bail+out
Have we been paid back all the bail-out money that we so generously gave to the Banks etc.? If not, now's the time to collect all that debt. Or why can't the Big Banks return the favor and bail-out the Unemployed Americans?? Yeah, right.
Who said anything about putting them on the welfare rolls? And why not TARP or Stimulus funds? And Scott who?? Senator? Republican? Democrat? Representative? What state? And what's his full name? Do you have any references you could post? That would be very helpful.
More cooperation from the party of no...... What have they done besides say no.... Anyone no?
It makes sense to me to throw them on the welfare rolls. You betcha, Last I heard they want to use tarp to bail out wall-street in case they need it. Is it Scott that refuses to support the Financial reform because he thinks it unfair that the big big corporations should put their own money aside to create a fund in case they get into trouble. Scott thinks that unfair, so in order to get it passed they changed the fund back to the taxpayer instead, and the bum still wants to think on it until after recess. Check out how much money this dude gets from Wall Street in the short time he has been in office. More than anyone I bet.
It makes sense to me to throw them on the welfare rolls. You betcha, Last I heard they want to use tarp to bail out wall-street in case they need it. Is it Scott that refuses to support the Financial reform because he thinks it unfair that the big big corporations should put their own money aside to create a fund in case they get into trouble. Scott thinks that unfair, so in order to get it passed they changed the fund back to the taxpayer instead, and the bum still wants to think on it until after recess. Check out how much money this dude gets from Wall Street in the short time he has been in office. More than anyone I bet.
I agree with you. I still do not understand the rationale of bailing out Wall Street fat cats so they can get bonuses and taxpayer funded vacations. The jobs created under the stimulus are laughable. There is money or programs from those two that would finance this. I don't want these people in a desperate position.
As for the Republicans wanting to finance the war, would someone please tell me how you run a war without funds? Not pay the troops? Come on Reid, get real.
As for the Republicans wanting to finance the war, would someone please tell me how you run a war without funds? Not pay the troops? Come on Reid, get real.
I don't know enough about all the different US programs and expenditures to make any kind of real suggestion, but how devasting for these families. In my opinion, people first (especially those unemployed through no fault of their own) and everything else second. I feel sick just reading about these poor people..what are they going to do now?
Cut the money from TARP
“According to the report, $489.88 billion has been committed to specific institutions, and $383.52 billion of that has been paid out by Treasury. The department said it does not expect to use more than $550 billion of the $700 billion program.”
http://online.wsj.com/article/SB10001424052748703509404575300502253092016.html
“According to the report, $489.88 billion has been committed to specific institutions, and $383.52 billion of that has been paid out by Treasury. The department said it does not expect to use more than $550 billion of the $700 billion program.”
http://online.wsj.com/article/SB10001424052748703509404575300502253092016.html
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