Monday, November 07, 2011

Will Republicans Continue to Try to Destroy the Economy?

With elections here in Virginia tomorrow being influenced by economic matters driven at the national level, it drives me to distraction that those who complain that the Democrats haven't gotten anything done are totally blind to the fact that the real blame lies with Congressional Republicans who would rather have the country go into a full depression rather than do anything that might be perceived as allowing Barack Obama to have a successful measure. Unfortunately, things will probably get force as the Congressional Republicans continue to throw millions of Americans under the bus in their quest for partisan victory. Even more disgusting is that their Christianist supporters are perfectly fine with ignoring the Gospel dictates to feed the hungry, cloth the naked and to care for the poor. The New York Times looks at this travesty in an editorial. Here are highlights:

High unemployment and low job growth, which have plagued the economy all through the current “recovery,” hurt both consumer spending and economic growth. But don’t count on government to do the obvious and urgent thing — intervene to create jobs.

Tragically, the more entrenched the jobs shortage becomes, the more paralyzed Congress becomes, with Republicans committed to doing nothing in the hopes that the faltering economy will cost President Obama his job in 2012. Last week, for instance, Senate Republicans filibustered a $60 billion proposal by Mr. Obama to create jobs by repairing and upgrading the nation’s deteriorating infrastructure. They were outraged that the bill would have been paid for by a 0.7 percent surtax on people making more than $1 million.

Things may be about to get worse.
Federal unemployment benefits, which generally kick in after 26 weeks of state-provided benefits, are scheduled to expire at the end of the year. That would be a disaster for many of the estimated 3.5 million Americans who get by on extended benefits — an average of $295 a week. It would also be a blow to the economy. . . . Unfortunately, given Republicans’ demonstrated willingness to ignore human needs and economic logic, it is more likely than not that jobless benefits will be a major battle in the months ahead.

There are no plausible arguments against an extension — in fact, Congress has never let federal benefits expire when the unemployment rate was higher than 7.2 percent. But there are many specious arguments, chief among them that providing benefits reduces the incentive to get a new job. The evidence says otherwise.

Unemployment benefits are the first line of defense against ruin from job loss that is beyond an individual’s control. . . . . They clearly need to be extended, though we have no illusion that it will happen without a fight.

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