Clueless congressman wants to extend unemployment for another year
The unemployment extension (to 99 weeks) mandated by congress is about to run out. With time running short during the lame duck session, at least one clueless congressman is proposing to extend unemployment benefits yet again – this time for a whole bloody year. Of course, there’s no mention of how to actually pay for it (according to PayGo rules) so it simply piles onto the already unsustainable deficit. BOHICA! (story here from The Hill)
Senate Finance Chairman Max Baucus (D-Mont.) introduced legislation Monday night that would provide long-term unemployed workers with benefits through the end of next year, with the program expected to lapse Tuesday.
Baucus told The Hill Monday night he wants to move quickly on the measure and “will try every way I can to get this passed.”
Whether the bill is pushed through as a stand-alone or as part of a larger tax or other legislative package, the federal program that provides jobless benefits for those whose 26 weeks of state benefits have ended, up to 99 weeks in states with the highest levels of unemployment, will expire Tuesday, affecting 800,000 by the end of next week and 2 million by the end of December.
The bill, which isn’t paid for, is estimated to cost about $56.4 billion, slightly below other estimates of between $60 billion and $65 billion, or about $5 billion a month. The Baucus bill would cost about $4.33 billion per month.
Baucus isn’t the only brain-dead senator as there are at least 27 more who are pushing for this. No doubt there will be some squishy RINOs who will go along with this too.
Earlier Monday, 27 Senate Democrats called for a one-year extension of the program in a letter Monday to Baucus and Senate Majority Leader Harry Reid (D-Nev.).
“As our nation continues to battle high unemployment rates, we must act immediately to continue vital safety net coverage for those most in need,” the letter said.
Safety net indeed. This will stimulate nothing – it will only prolong the agony and add to the stunning deficit run up by this hideous congress. It will also add to state deficits as they are responsible for unemployment benefits as well (more here and here).
Again, trying to address a spending problem with more spending. If you really want to address this mess, you need to actually stimulate the economy. Here’s DaMook’s 6 point plan for the economy:
- Roll back federal spending and employment to 2008 levels. Freeze it there for 3 years.
- Repeal obamacare.
- Repeal Dodd/Frank financial regulation.
- Extend the Bush tax cuts at all levels – permanently.
- Roll back EPA and other government lunacy regulation to pre-2008 policies.
- After all of that is done, send congress home for a 1 year vacation and declare a 1 year moratorium on federal regulation.
Then we can start talking about shrinking the federal leviathan.