CFA Warns Senate: Vote NO on Unemployment Extension

Tuesday, July 20, 2010 1:20 PM

Today, the Senate is poised to take up a bill that would extend unemployment insurance until November 30. The bill, previously a part of the "tax extenders" package, is completely unpaid for, spending $34 billion. The Senate has previously rejected proposals from Republican members that would have rescinded "stimulus" funds to  pay for the unemployment extension. From our alert:

The bill pushes for an extension of unemployment handouts until November 30 without making any attempt to pay for this expansion of federal subsidies for the unemployed – this adds $34 billion to the growing government tab for which taxpayers are on the hook to pay. Despite reports that the extension of these benefits continues to disincentivize actual employment and recovery, Congress is poised to extend these subsidies for the fourth time since President Obama took office. Passage of this bill would amount to $123 billion in total unemployment insurance spending, while all signs indicate these extensions have done little to stimulate economic recovery.

Taxpayers are not fooled. This bill continues to spend money we don’t have on programs that do nothing to improve the economic climate. None of this bill is paid for. Instead, Congressional leadership continues to exploit the PAYGO sham by hiding its profligacy behind “emergency” spending designations. After the disastrous “stimulus” proposals of the past year, Congress should stop forcing taxpayers to shoulder the burden of more failed spending policies. 

Click here to read the entire alert.

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