#unemployment #hr4213 #economy #s3520 #hr5618 #paygo U.S. Senators Jim Risch and Mike Crapo voted to extend unemployment benefits for an additional 90 days without raising the national debt. The amendment, S. Amdt 4492, would have used unspent stimulus funds to cover the three-month extension. Democrats voted the amendment down by a 56-42 margin.
“There has never been a question whether unemployment benefits should be extended. The issue has been if we add an additional $34 billion to our skyrocketing national debt or shift funds from elsewhere to cover it,” said Risch. “Clearly the majority party has decided to borrow and spend today to the detriment of our children, grandchildren and great grandchildren’s future.”
“The amendment that was voted down would have reduced the deficit by $7 billion instead of increasing it by $34 billion, and unemployment benefits would have been extended for those who need them,” Crapo said. “This amendment was offered as a compromise, yet it was still voted down on a party-line vote. It is unfortunate that far too many believe that the Republicans have not supported an unemployment benefit extension; it just should be one that is paid for.”
Source: Senate (Risch)
During the signing of The Improper Payments Elimination and Recovery Act (IPERA) today:
Obama said, "When we continue to spend as if deficits don't matter that means our kids and our grand kids may wind up saddled with debts that they'll never be able to repay."
Source: MSNBC
“With the President’s signature today, our nation takes a critical step forward for fiscal discipline. The Improper Payments Elimination and Recovery Act will save taxpayers tens of billions of dollars by cracking down on waste, fraud, and abuse in government spending, identifying and eliminating improper payments, and recovering lost funds that federal agencies have spent improperly.
“This legislation is part of our broader effort to restore fiscal responsibility and uphold our commitment to accountability and transparency. This Congress has made pay-as-you-go spending the law of the land and cracked down on wasteful spending in Medicare and Medicaid. And the House has passed a budget that requires cuts of $7 billion below the President’s request.
Source: House (Pelosi)
On Tuesday, Reid could have passed the standalone extension HR5618 bill. Obama would have signed the continuation of your unemployment checks by Thursday morning.
Instead Reid and Pelosi wanted to use your pain to pass the bigger HR4213. In addition to your unemployment extensions, the bill includes stuff like changes to the satellite TV regulations. If you have an “S” corporation and don’t pay social security taxes, you will now have to pay more taxes thanks to HR4213. Also, HR4213 changes corporation tax laws.
When liberals whine why the cost of the extensions absolutely MUST be added to the national debt and MUST ignore the Paygo law, one reason they point to are the republicans and Bush giving tax cuts to the rich. Well, I read this morning the democrats are considering extending the Bush tax cuts to the rich for two years. The article said they are afraid of stopping the tax cuts because it would hurt their mid-term election chances.
The lame duck congress will have to take this issue up again in November.
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I also spoke to a representative at the EDD this morning. He stated that the application had to be completed online, or with a representative at the 800 number. I was informed that paperwork would come in the mail advising what are the new requirements. I had already filed online per my last pay stub. So time and patience….I will advise if I get the new claim forms : )
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