Yes – Democrats are holding up benefits to the unemployed! No they aren’t. And neither are Republicans. We are just witnessing the worst that Washington has to offer in a slow motion car wreck involving our financial future.
Democrats want to extend unemployment benefits as “emergency” funding and not pay for it under the “pay-as-you-go” rules reinstated by the democratic congress. These rules would require offsetting cuts in spending to fund new initiatives. (Even though congress approved offsets to fund extensions in Nov 2009)
Republicans won’t let the bill go forward unless its paid for, and have offered versions of a compromise that would pay for it with cuts, or by using stimulus money.
The Democrats rejected it. Really!?
There is nearly $180B in funds still yet to be spent in the Stimulus bill. If that money is already there, does it make sense to borrow more money from foreign sources to pay for the extension of unemployment?
In this contest of dumb and dumber, I just don’t know who wins. The Democrats for waiting to get back their 60 seat super-majority in order to borrow several billion dollars more even though the money is already allocated, or the Republicans for not being able to figure out how to get a compromise deal cut, and letting themselves be positioned as obstructionist?
Both moves make congress as a whole look more inept than ever.
What do you think?
Guest Blogger Jeff