Good News, Congress most likely will pass the, 'American Jobs and Closing Tax Loopholes Act of
2010' (H.R.4213), today or over the next week, with President Obama signing quickly.
This legislation will; "Amend the Supplemental Appropriations Act, 2008
with respect to the state-established individual emergency unemployment
compensation account. Extends the final date for entering a federal-state
agreement under the Emergency Unemployment Compensation (EUC) program through
November 30, 2010. Postpones the termination of the program until April 30,
2011." H.R.4213
Bad News is, the extension is just another cork in
the hole of the haul of a seemingly sinking ship. Yes, we need the unemployment
benefits extended to that unemployment, but as Senator Feinstein commented in June, "We have 99 weeks of unemployment insurance
now. The question becomes how long do you continue it before people just don't
go back to work at all? June 16, 2010 Trust me, Senator Feinstein isn't joining
the ranks of her conservative colleagues in the Senate, nor touting the
laziness inherent in all mankind as being the sole reason why Unemployed
(Benefited) Americans are not returning to work. Though you could reasonably
argue the fact that many benefiting unemployed Americans take too long to find
work because they are taking advantage of America's recessional economic
tail-spin, and a hot political climate, which is over compensating
everyone and everything for the votes.
It's a fact, President Obama and Congress promised
America this Administration would practice transparency and use pay-go with new
legislation. At the end of 2009, Congress and the President funded the last
extension of unemployment Insurance, " by extending a longstanding federal
unemployment tax on employers through June 30, 2011." CNNMoney.com Considering all the rhetoric by a campaigning
Obama, on how He'll be the 'One' to unite this country and return her to a
position of unity and strength if elected President. This President has done
nothing but the opposite. President Obama has lacked in the ability to
compromise and unite this Congress to move forward in the, 'Will' of the
people. It has been partisan play by this Administration since taking office,
and the Republican minority hasn't been any better.
Yes the unemployed need an extension of their
Unemployment Insurance, but the President and Congress have had the time to
find and must extend the Unemployment Insurance Benefits using Pay-Go, to pay
for this extension without any increase to U.S. Debt. They've done it each
time, what's different now? Please,
don't tell me it's political.
The worst news is that regardless of the extension,
it will not be long enough, that is, unless the President and Congress can fix
the problem of unemployment from the root of the problem. Pull back, ease back,
on all the federal intervention and regulated mandates that are scarring the
hell out of small businesses (Private Sector) across America. At this point in
his presidency, Obama has been no help, no friend, to small or large businesses
throughout the greatest nation on earth. From complicated new taxes, mandates,
healthcare and regulations, small business is in the choke hold of a beefed up
Uncle Sam.
I'm Dr. Quack with the harsh cry of reason...7 21 10.
