scottmet99 saidSorry and no offense to anyone who is a Republican, but they are really making me angry these days (more than usual). President Obama is attacked, kicked, blocked, second guessed by Republicans on every opinion or decision he makes. Now Republicans are doing everything in their power to block extended benefits for unemployed people and about 2 million people will lose benefits by the end of the month. Sickening.
Anyway, just wanted to vent. Other opinions welcome :-)
Do a quick search on the term PAYGO.
Basically, it is a rule passed by Congress that says any new spending must not add to the deficit/debt.
I know, it's ludicrous as our Congress has continued to deficit spend in violation of their own rules.
The unemployment benefits thing boils down to this. The Democrats want to deficit finance it. The Republicans want to finance it out of the funds that we have (which is debatable because the Federal government is broke).
A 0.01% cut in Federal expenditures would probably finance the extended benefits. But a real cut is apparently a concept that neither party in Washington DC can grasp.