Harry Reid and the Democrats refused to extend unemployment benefits to 1.3 million unemployed workers. Instead of compromising and using unused funds from the failed stimulus package, Reid decided it was more important to play politics and take a vacation. The is the same Harry Reid that said it was a good day in America when the economy shed 36,000 jobs. This is the same Harry Reid that defended the failed stimulus bill and said it would keep the unemployment rate under 8%. We all know how accurate the prognosticator Reid has been with all of his predictions.
Let there be no doubt the failure to pass an extension of unemployment benefits is a failure of the Democrats. It was the Democrats that passed the "Pay Go" act and then immediately ignored the bill. The Republicans were even willing to compromise on the "Pay Go" if only the Democrats tap into unused failed stimulus dollars. Enough Republicans would have voted with Reid if only he was willing pay for half of the bill with unused stimulus money.
One day after Nancy Pelosi stated that Unemployment checks were the fastest way to create jobs the Democrats refused to play ball. Here is what Senator Dick Durbin (D) had to say "We've never done it," Durbin said. "And it is counterintuitive that to stop a recession we have to take spending away from one area and put it into another. We need to put money into the economy.". So let me get this straight; with unemployment standing at 9.5% and another month with 125,000 jobs lost Durbin's excuse is that it has never been done before? Durbin must not agree with Nancy that unemployment checks are the fastest way to create jobs?
We all know that it is the Democrats that are the party of "no". Everything is either their way or the highway. Democrats have been quick to say "elections have consequences". Obama once told the Republicans to get on board because in Obama's own words "I won". So while the Congress is on vacation, the unemployed get to suffer yet again.
I am not a fan of 99 weeks of unemployment benefits. Normally, the unemployment benefit runs out after 26 weeks. There is a reason for the 6 month cut off. After 6 months out of the workplace potential employee has lost skills necessary to be competitive in the workplace. Many of the workers on extended unemployment will never have a job again. Unemployment checks do not create jobs and spending money on extended benefits takes money away from private investors and private capital. It is the private capital that creates new jobs.
After today's bad news on the economy and the failure of Democrats to extend unemployment checks I have but one question "How are trickle up economics working out?"