Thursday, June 24, 2010


This is classic. Today Senate Republicans killed legislation that would extend unemployment benefits and provide aid to state governments, saying it would add too much to the federal deficit. How much would today's legislation have cost? Aproximattely $33 billion. Or about the same amount that Wall Street paid out in bonuses in 2008 and in 2009.

Because the legislation failed approximately 1 million people will lose their unemployment benefits, while another 300,000 state workers will probably lose their jobs. States may have to fire that many people after losing funding that was in the proposed bill.

Got that? Wall Street gets bailed out and cashes in after wrecking the economy and ruining the lives of millions of Americans. Yet, Senate Republicans think nothing should be done to help those who've lost their jobs and homes as a result of Wall Street's stupidity and greed - which caused the worst economic recession since the Great Depression - because it's not good for America's work ethic. Great.

But this isn't what makes the the 57-41 vote so disgusting (yeah, there were 57 votes in favor of extending benefits, but Republicans are threatening to filibuster, again). What's so galling about the vote is that while Senate Republicans are worried about adding $33 billion to our budget deficit they continue to support repealing the Estate Tax, which would add approximately $1.3 Trillion to  the deficit between fiscal years 2012 and 2021 ($1 trillion in lost tax revenue plus $277 billion in higher interest payments on the national debt).

That's right. Republicans are afraid of adding about $33 billion to our budget deficit at the same time they want to add $1.3 Trillion to our national debt by making sure the Paris Hilton's of America don't have to pay any inheritance taxes. I don't know about anyone else but coming out of the right womb and favorable legislation for the rich doesn't seem like the America I've read about.
That the Republicans would chose to protect the interests of the Paris Hilton's of America (in the process crying and whining about a "death tax"), while throwing America's middle-class to the wolves, says much about Republican ideas and their priorities. What a bunch of idiots.
- Mark

No comments: