1.2 Million Without Funds And More To Come

Legislation that would have extended unemployment benefits six more months failed to pass today. Now it would have ballooned the deficit $33 billion, but that is a great deal less than we provided to save AIG alone and, this week alone, it would have kept 1.2 million folks from losing benefits (as in probably their sole source of income), with millions more to lose such benefits in months to ocme. That shows where the priorities are, trillions to save Wall Street but let those on the street with mouths to feed figure something else out. Let's just say I am a bit disgusted.

Now I am a big fan of not doing a lot more stimulus and I was always a big fan of wasting less money on Wall Street, but times are desperate and people need to eat. And these are people who have no choice but to spend what little the government gives them on necessities, so they support the economy and a lot of what they are given recycles to benefit others in our economy. Of course those in need will find some other form of relief, probably tied to state programs that are already strapped, so it will still come back to the taxpayers to fund, but at least some folks in Congress were able to beat their chests today and say they are not adding to the deficit. Where was the chest beating when we needed to defeat TARP, where was it when AIG should have been dismantled, where was it when Goldman Sachs was given billions in taxpayer money from the funds we gave to support AIG? While I am not at all pleased with Obama or his performance and decisions to date, this was an issue where I squarely agreed with the Democratic majority. The richest nation on earth should not let people flounder like this and not know how they will take care of their families. I could not fathom waking up tomorrow, unemployed, knowing there is no money in the pipeline. For those in this situation with children, my heart goes out to you. And it is not like these folks are not seeking jobs. The jobs market is terrible right now and the average time to find new employment is at extremes, so you can hardly blame the unemployed for their situation (well, at least most of them). It is a truly sad state of affairs.

http://thehill.com/blogs/healthwatch/politics-elections/105445-senate-dems-fail-to-advance-tax-extenders-bill-for-the-third-time

And think about food banks. They are already stretched to the limit. Their funding is down, those needing food is up and kids are now home for the summer and needing lunch every day. Now they will have millions more foisted upon them to feed at the worst possible time. Beat your chest about that folks.

Disclosures: None.