Congressional Madness

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.” - Warren Buffet

December 6, 2010

The Republican leaders talk out of both sides of their mouths. They claim that they want to reduce the deficit and support the middle class, but their votes show the opposite. The Senate rejected the House and Obama-backed tax plan to maintain the Bush tax cuts for American couples who make under $250,000 and individuals who earn under $200,000 annually.  Republican Senators, four Democrats -- Russ Feingold (WI), Ben Nelson (NE), Joe Manchin (WV), and Jim Webb (VA) -- and Independent Joe Lieberman (CT) voted against the bill Saturday in the Senate.

Economists say that the Bush tax cuts have done nothing to help the economy, in fact, they are in part responsible for the down turn.

There are 1.6 million Americans whose unemployment benefits will run out by December and about 6 million more will lose their benefits in the spring. The GOP is refusing to pass legislation to extend benefits unless tax cuts for the richest Americans are extended, which will put the country deeper into debt. I haven't heard anything about their plan to deal with hundreds of thousands who lose their benefits that will join the growing number of homeless and hungry Americans.

Senator John Kerry said:
“The Republicans are fighting to keep in place a tax policy that has failed over the last eight years,” he said. “We have had a net loss of jobs. And what we’ve seen is a Republican party that’s absolutely prepared to deny unemployment insurance to people who have been laid off.”

Kerry had especially harsh words for what he called a Republican double standard.

“The Republicans have been willing to hold unemployment insurance hostage to this bonus tax cut that has the least [economic] impact and adds to the deficit,” he said, reflecting on votes through 2010. “And the phony recklessness of their position is this: they’ve said for months we can’t give you unemployment compensation because it’s unpaid for and it will add to the deficit. But yesterday, they were willing to vote for a $4 trillion increase that wipes out everything the debt commission is doing in order to give a tax cut to the wealthiest people.”
Senator Kerry said it was a myth that tax cuts for the rich create jobs. I tend to agree since in over 8 years of tax cuts there has been no increase in jobs. Americans also agree according to the latest polls like this one from CBS News:

Other members of Congress agree that the Republican game is dangerous. Senator Dick Durbin (D-Illinois) said:
“Clearly the deficit is not an issue here any longer. If we can justify giving a tax break to the wealthiest people in America, adding $700 billion to our deficit over the next ten years, I wonder what I’ve been doing over the last ten months sitting on that deficit commission.”
White House correspondent Chip Reid said, "If cuts expire for the top 2 percent of earners, $700 billion will be added to government coffers, helping to ease the debt. If all the cuts stay in place, the deficit will soar by $3.7 trillion dollars over 10 years."

Absolute madness.

See Also: Broken Congress


Anonymous said...

How long is enough for unemployment? It use to be 26 weeks, or half a year. Now it's up to two years and that looks to get extended.
This is a situation of the economy as well as human nature. If someone give you something you get use to it. If it goes on for years, it becomes a lifestyle and you expect it.
Now, I know there are people out there that need it, but let's look at their real needs. I would think that most people that have been out of work for two years long ago adjusted their lifestyle to live with what they have. They might want more, but they can live on it and that's fine with them until someone takes it away.
But it goes back to my question. How long is long enough? Are we going to extend this to three years, four years, ten years, twenty years? Oh, that would be crazy, right? It has already been quadrupled so I think anything is possible.

Wendy Doromal said...

I think 99 weeks is the maximum that was given by extensions. Most unemployed or laid off people (I know 4) have looked for jobs consistently without luck. While some can move in with family members when they lose their jobs and homes, some just do not have that option. The homelessness in the US is rising and the fastest growing segment is women and children. Churches are even opening their doors to allow people to sleep in their sanctuaries. I don't what the solution is, but I don't think it was a good idea to bail out banks and Wall Street and not the people that they ripped off. If homeowners were allowed to refinance their mortgages the economy would most likely pick up. Only a small percentage qualify for refinancing, and most US homeowners are underwater in their mortgages. This means that they cannot sell their homes to look for a job where there actually is work. What a mess.

Anonymous said...

obama has sunk the USA into a trillion dollar debt, while lambasting the federal employee and bailing out the wealthy. His plan to stop foreclosures failed miserably.

I know many unemployed folks who have gotten real used to it. Its human nature and the entitlement mentality that some social programs have created, not all, but some.