Unemployment Extension 101: What You Need to Know
This week the U.S. Senate finally passed the unemployment extension. It was quickly signed into law by President Obama. A quick recap from the Christian Science Monitor includes info on who is and who isn’t eligible, how long the extension is, and how Congress will pay for it.
Because it is categorized as “emergency spending,” it is not subject to congressional pay-go rules. Budget items subject to pay-go rules must have a predetermined funding source in order to be passed. However, the $34 billion will have effects that might help curb its impact on the federal budget deficit, which was projected at $1.6 trillion in February.
“Much if not all of the money will be spent, which increases economic activity,” explains Stanley Collender, a budget expert at Qorvis Communications in Washington. “And the budget deficit is probably shrinking, not growing, because we’ve gotten more of the TARP money back and corporate profits have been higher than anticipated,” says Mr. Collender, who expects the deficit will actually come in closer to $1.3 trillion this year.
The article is thorough and factual, but it leaves out the human aspect of the legislation, i.e., “with so many Americans out of work and with no jobs available, how are people supposed to take care of their families?” and “How can anyone vote against it?”
Here’s how your Tennessee delegation voted:
Senator Lamar Alexander (R, TN) – No
Senator Bob Corker (R, TN) – No
Rep. Phil Roe [R, TN-1] – No
Rep. John Duncan [R, TN-2] – No
Rep. Zach Wamp [R, TN-3] – Abstain
Rep. Lincoln Davis [D, TN-4] – Yes
Rep. Jim Cooper [D, TN-5] – No
Rep. Barton Gordon [D, TN-6] – Yes
Rep. Marsha Blackburn [R, TN-7] – No
Rep. John Tanner [D, TN-8] – Yes
Rep. Steve Cohen [D, TN-9] – Yes