News Journal: Number 02–July 18, 2010 Unemployment Benefit Extension and Raising Taxes
BREAKING NEWS Politics News Economy Jobs President Obama Wants to Extend Unemployment Benefits
Bill O’Reilly: Extension of unemployment being blocked by GOP –
“Who should pay?”
Paul Ryan on Washington’s Borrow and Spend Spree
Democrats Move to Extend Unemployment Benefits as Goodwin Casts First Vote
Hatch CNBC Unemployment Benefits
Rob Shapiro on Fox News re Unemployment Benefits
Daniel J. Mitchell talks unemployment benefit extensions on CNN Newsroom
http://www.cato.org/mediahighlights/index.php?highlight_id=1382
Both political parties support the extension of unemployment benefit to 99 weeks or almost two years.
The Republicans have recommended that the unspent stimulus package funds be used to pay for the extension of unemployment benefits instead of funding the benefits by issuing more Federal Government debt.
Should the Democratic Party let the Bush tax cuts expire at the end of the year, the result will be a tax increase for those who pay taxes and create most of the jobs, namely small and middle size business.
This will only prolong the current recession/depression and increase those Americans who are unemployed.
When the first extension to unemployment benefits was passed last November, President Obama stated they were fully paid for and as a result did not require deficit spending and incurring more debt to pay for the benefits.
Now upwards of $30 billion of new debt must be issued to pay for this new extension of unemployment benefits.
Paul Ryan is right, the Democrats are out of controll in spending money and increasing deficits and the national debt.
This is simply irresponsible and the American people are waking up and will throw them out of office.
Background Articles and Videos
The Heritage Foundation
Heritage Foundation 2010 Budget Charts–Federal Spending
Heritage Foundation 2010 Budget Charts–Federal Revenue
Heritage Foundation 2010 Budget Charts–Federal Debt and Deficits
Heritage Foundation 2010 Budget Charts–Federal Entitlements
Pres. Obama regarding Unemployment and Economy
Keynesian Economics is a Failure – Why is Obama trying it again? Repeal the Stimulus Package
Obama Changes Tune on Paying for Unemployment Benefits Extension
Posted by Mark Knoller
“…In signing the bill restoring unemployment benefits to 2 ? million Americans jobless for more than 26 weeks, President Obama is also adding $34 billion to the deficit and the National Debt.
That’s the reason nearly all Republicans voted against the measure. They wanted the cost of the benefits paid for with unspent government funds or by other budget cuts.
The White House dismissed GOP concerns as partisan game-playing.
In two speeches over the last week, Mr. Obama argued that in the past, presidents and Congresses of both parties have treated unemployment insurance for what it is: an emergency expenditure.
“Suddenly, Republican leaders want to change that,” he said.
He portrayed Republicans as hypocrites for demanding that jobless benefits be paid for but not applying the same standard to their call for an extension of Bush Administration tax cuts that will expire this year.
“So after years of championing policies that turned a record surplus into a massive deficit, including a tax cut for the wealthiest Americans, they’ve finally decided to make their stand on the backs of the unemployed,” the president said last Saturday in his radio/internet address.
But Republicans were quick to remind Mr. Obama what he said after signing a previous extension of unemployment benefits on November 6th of last year.
“Now, it’s important to note that the bill I signed will not add to our deficit. It is fully paid for, and so it is fiscally responsible,” he said.
So eight months ago, he said paying for the benefits was the right thing to do, but now he sees no need to do so.
Asked about the contradiction, White House spokesman Robert Gibbs said he needed to examine what Mr. Obama said last November and would get back to this reporter. He didn’t. …”
http://www.cbsnews.com/8301-503544_162-20011420-503544.html
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