Unemployment Impasse at an End in Congress?
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Unemployment benefits have been frozen because of a political stalemate in the Senate, but that may change after the late Senator Robert Byrd's replacement is sworn in today, reports CNN.
When Byrd died last month, Democrats lost a crucial vote in the often-deadlocked Senate. The governor of Byrd's state, West Virginia, is a Democrat and was expected to appoint a like-minded replacement, which would potentially give the Democrats the 60th vote needed to override the threat of a Republican filibuster.
"On Monday, President Barack Obama tore into congressional Republicans, arguing that a "partisan minority" had allowed short-term political calculations to trump genuine economic need.
"The Republicans are guided by a "misguided notion" that a new relief bill would discourage people from looking for work, the president said at the White House."
"Senate GOP leaders have blocked a vote several times, highlighting deficit concerns by arguing that any benefits extension should be offset by spending cuts."
But Democrats counter that the Republicans are grandstanding for political gain. In the past, the extension of unemployment benefits, while at times contentious, has always passed eventually whenever it has come before Congress. Many economists agree that paying out unemployment benefits has a net positive impact on the economy because the funds allow consumers to pay off bills and keep their houses, all of which inject cash directly into the market.
