I’m so excited, I can’t stand it! So excellent to hear the White House agreeing with Congressional Republicans to extend tax cuts for 2 years through 2012! As a concession, the Republicans agree to extend unemployment insurance for another 13 months. That’s not quite the “Shock & Awe Yeah” proposal I have of 260 weeks of unemployment benefits, but 155 weeks is still pretty damn good!
Deploying an enormous unemployment insurance safety net could very well jump start the economy or bring us back to socialism. I take the former stance, as a bullet-proof safety net causes employees to work harder, take more risks, and be more creative since they no longer have to fear losing their jobs.
Getting 13 months of extra unemployment benefits after getting 99 weeks sounds like a lot. That said, if you were unemployed, hell yeah you’d want to the extra 13 months! Now that compromise is here between our nefarious, I mean selfless leaders in Washington, the next step is dealing with all this QE2, QE3, QE4 nonsense! There are much better ways to spend $600 billion than buying back US treasuries to stimulate the economy.
THE NEXT STEP