Politics

Washington Post: Passing Extension of Unemployment Insurance is ?Right Thing To Do, and Fiscally Prudent Too?

By Karina

On July 1st, the House passed urgently-needed legislation to extend unemployment benefits for millions of American families?a proven boost to the economy and a much-needed lifeline for Americans looking for work in a tough economy. Senate Republicans continue to obstruct the legislation.

As the Washington Post wrote in an editorial this morning:

?Drawing the deficit line at additional unemployment benefits is shortsighted, because, if anything, the economy could benefit from more stimulus spending, not less. Unemployment benefits, which are most apt to be immediately plowed back into the economy, are about the most stimulative form of spending. Extending them is both fiscally sensible and morally decent.

?Unemployment benefits?are an essential lifeline. The Senate needs to extend them.

?[The Senate should pass the legislation to] offer more help to states to pay for Medicaid, the joint federal-state health care program for the poor. There is no good reason to oppose this help and every reason to offer it. The cost has been trimmed from $24 billion to $16 billion. It is fully paid for, as is the rest of the measure, which would extend expiring tax breaks and renew a particularly effective program to provide jobs to unemployed low-income parents.

?Passing this package is the right thing to do, and fiscally prudent too.

Read the full editorial»

Full post as published by The Gavel on July 13, 2010 (boomark / email).