The Senate greases their re-election with unemployment!

Posted on 05. Nov, 2009 by scott in economic daydreaming, political munglings

Of course you have heard that this week the Senate (asleep at the wheel again) passed a bill providing for extension of unemployment compensation. No one should be surprised. Billions of $$ down the drain . . . that is how I feel about it. And, of course, yet another reason for term limits.

The details aren’t all that important to most of us — including the 15,000,000 unemployed — because while the bill shows some elements of ’sensitivity’ to the problem it isn’t for charity’s sake but rather to keep the Senators who are running for office next year from joining those 15 M in the unemployment lines.

The bill provides for up to 99 weeks of benefits . . . much longer than ever provided before (the previous record was 65 weeks in the 1970’s). That is an extension of another 20 weeks and the fourth extension since June of 2008. You can do the math yourself knowing that the average benefits are $300 per week. Billions of $$ that should, and could, be better spent elsewhere. And I really am for helping the unemployed . . . but remember that if you teach a man to fish he can live forever!

While you can do the math, you may not be prepared (mentally or emotionally) to figure out what this really means.

Let me tell you.

Numero Uno. Ninety-nine weeks of unemployment. That is nearly two years and isn’t higher than that only because of the political implications of providing TRIPLE-DIGIT UNEMPLOYMENT BENEFITS! So the main reason for this is political . . . not economic. Okay . . . we got that straight.

Secondly. It is businesses who pay for much of this benefit by nature of their contributions to the unemployment funds of each state and the federal government. So, on a macro-micro level this benefit represents billions of $$ that businesses simply can’t spend on JOBS! Ah, know you are seeing further political implications here . . . more democratic income shifting (a favorite ploy of the socialist left).

Thirdly and finally. This extension of 99 weeks means that most (or at least a whole lot) of the unemployed (and their friends and family) will appreciate the impacts of these benefits extended right up to the critical elections of 2010. Oh, yeah! Get the picture?? What a dang obvious ploy by the majority democrats (and all of congress) to buy votes so that they can stay in office (if it isn’t a direct political maneuver, it sure stinks like one).

Or course anyone who has been reading CapitalistMarks for more than a week knows that our #1 priority right now is unemployment. But paying people to stay on unemployment even longer just isn’t right. Fact is I know of one talented young guy who feels perfectly comfortable taking unemployment benefits (just about anyone can live on $1,200 a month tax free for 99 weeks) until he simply has to look for work. That isn’t good for him and it sure isn’t good for you and me.

Congress is enabling again. Just what we don’t need.

What we really need is all of those billions of $$ being spent to CREATE jobs (and a few hundred billion $$ more). Stop paying people NOT to work and create jobs for them. Or provide education so they can get better jobs. Put them to work and not in front of their TV’s.

Another failure of moral balance by our Congress (democrats and republicans alike really). Another great reason for term limits. Another great reason to NEVER, EVER, EVER vote for an incumbent (and that goes quadruple for any that have had two terms or more!!!).

Light up the phones once again. Swamp the web. Write those snail-mail letters. Get congress back on the right track. Get America back to work.

Thank you and good-night for Pete’s sake!!

thanks to flickrs kaibara87 for the phots

Tags: congressional election ploy, job creation, reelection ploys, unemployment benefits