President Obama has lashed out at Senate Republicans regarding their "cold-hearted" efforts to block relief for unemployed Americans. He said they were “using their power to hold this relief (to unemployed Americans) hostage.” Currently, a new unemployment extension package lies in wait in the Senate with hopes of swift action next Monday, when Congress returns from the Fourth of July recess. The package is a much scaled down version of the previous version. The sponsors of the new bill - H.R. 5618, Rep. Jim McDermott (D-WA) a long time supporter of the nation’s workforce along with House Ways and Means Chairman Sander Levin (D-MI) worked hard to get a bill that would bring much needed relief to America’s unemployed workers.President Obama, referencing the unemployment emergency, stated, “Still, at a time when millions of Americans feel a deep sense of urgency in their own lives, Republican leaders in Washington just don’t get it. While a majority of Senators support taking these steps to help the American people, some (primarily Republicans) are playing the same old Washington games and using their power to hold this relief hostage – a move that only ends up holding back our recovery. It doesn't make sense.”
Remarking about the economy, President Obama stated, “Well, on Friday, we learned that after 22 straight months of job loss, our economy has now created jobs in the private sector for 6 months in a row. That’s a positive sign. But the truth is, the recession from which we’re emerging has left us in a hole that’s about 8 million jobs deep. And as I’ve said from the day I took office, it’s going to take months, even years, to dig our way out – and it’s going to require an all-hands-on-deck effort.”
As the Senate returns to business on July 12, millions of unemployed Americans in desperate need of assistance have one ray of hope. W.V. Democrats and state labor leaders are pushing WV Gov Joe Manchin to fill the Senate spot held for more than half a century by the late Sen. Byrd. By naming himself Senator this week, Manchin becomes the 60th vote and on Monday, Senate Democrats could muster the votes to overcome Republican filibusters and pass an extension of unemployment benefits.
From my perspective, Republicans are a party of NO. They are digging in their heels. They think tax cuts are the only option left for economic recovery. They want the American Public as miserable as possible. Keep them unemployed by stopping the creation of new jobs. Deny them unemployment extensions. Let them starve. Make the American Public so miserable they believe the Federal Government is broken and therefore elect Republicans in November. Their goal is to end entitlements of any nature. Curtail all future Federal programs. Return power to the states where they think they have more influence because “Washington is Broken." At the state level, this means no unemployment benefits at all - even 26 weeks of benefits are in jeopardy because the states are broke. Already they are portraying the unemployed as "spoiled" and "Lazy." As Republican candidate for Nevada Senate and Tea Party favorite Sharon Angle said about the unemployed, "We’ve put in so much entitlement into our government that we really have spoiled our citizenry.” She said cutting them off from unemployment "will motivate them to find and accept any job, no matter the pay." She said this even though the Labor dept reported there is only 1 job for every 5 unemployed Americans.
Republicans will try to cut ALL entitlement programs. They are preparing to cut Social Security. If the public supports them they will cut Medicaid, Medicare and every other "Liberal Democrat" program. They will continue to support outsourcing so more jobs will be lost. If you believe in their vision and they win this power struggle, you may have lower taxes but you certainly will not have a job nor any benefits including insurance. We truly will evolve to two classes, the Rich Elite Conservatives/Business Owners and the desperately poor, unemployed masses.
Economist Paul Krugman: "Republicans blocking the unemployment insurance extension are a "coalition of the heartless, the clueless and the confused."
ReplyDelete“It is also important that policymakers provide emergency benefits to those who will lose their jobs this year. No form of the fiscal stimulus has proved more effective during the past two years than emergency UI benefits, providing a bang for the buck of 1.61—that is, for every $1 in UI benefits, GDP one year later is increased by an estimated $1.61. This economic boost is large because financially stressed unemployed workers spend benefits quickly, as opposed to saving them. This was particularly important during the depths of the recession when consumers had aggressively cut spending. While consumer spending has since notably improved, it remains fragile and would likely weaken again if emergency UI benefits are not extended. The recovery would struggle to evolve into an expansion as anticipated.”-Prepared Congressional testimony April 14, 2010 Mark Zandi, Chief Economist Moody’s Analytics
ReplyDeleteThe facts are indisputable: nearly 15 million people are still unemployed in this country, with hundreds of thousands completely maxed out of their benefits and more than one million more watching and waiting for action absent any income, without any relief as the Senate scuffles and postures momentarily delaying their pissing contest for yet another vacation. The number grows week by week, likely sitting at around 2 million without benefits or a lifeline, their hunt for employment hampered by at least 5 to 1 odds for every open job.
ReplyDeleteNoted Economist, and former Labor Secretary Robert Reich:
ReplyDelete“The issue is not the debt per se but the ratio of debt to the total economy (GDP). In the short-term (next one to three years), it would be folly to try to pay down the national debt, because government spending is needed to get the economy growing nicely again. If we reduced the debt, we’d slow economic growth and risk another recession, ending up with a worse ratio of debt to GDP than we have now. But in the longer term (five to ten years from now), it would be folly not to address the widening ratio of debt to GDP. Mainly, we’ll need to raise taxes on the wealthy, cut military spending, and slow the growth of Medicare.”
Economist Paul Krugman:
ReplyDelete“We are now, I fear, in the early stages of a third depression...(yet) governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending. In the face of this (our current depression), you might have expected policymakers to realize that they haven’t yet done enough to promote recovery. But no: Over the last few months there has been a stunning resurgence of hard-money and balanced-budget orthodoxy.”
The Republicans will agree to an extension IF stimulus funds are used. Why shouldn't stimulus funds be used? What is a stimulus for? The stimulus was used for unemployment before. The dems are grandstanding.
ReplyDeleteNo Jools. Republicans are the party of NO.
ReplyDeleteI saw economist Paul Krugman on the talk shows on Sunday. He completed refuted the Republicans claims. He and many other economists say that the unemployment benefits go back into the economy immediately at a rate of 1.6 to 1. They benefit the economy immediately.
The republican argument is ludicrous. Paying these benefits is better than a tax cut or rebate.
The republicans argument is a scam and just more of their agenda as the party of NO.