Despite Huge Cuts — And Weak Fed Economic Indicators — Republicans Still Filibustering Extenders Bil

[Donnachaidh]

http://wonkroom.thinkprogress.org/2010/06/24/fed-subdued-ui/

Despite Huge Cuts — And Weak Fed Economic Indicators — Republicans Still Filibustering Extenders Bill

Today, Senate Democrats expect to hold yet another vote on their tax extenders package — which extends unemployment benefits and various tax credits — and by all accounts they will not be able to drum up enough votes to invoke cloture. During this process, the bill has been whittled from $200 billion to $100 billion, and gone from being deficit-funded to almost entirely paid for (with the exception of the unemployment insurance). “I’ve never been involved in anything that’s been revised so often and in so many different ways,” said Sen. Max Baucus (D-MT).

And still, Republicans — along with Sen. Ben Nelson (D-NE) — are going to filibuster it. Minority Leader Mitch McConnell (R-KY) “dismissed” the latest proposal, calling it the “deficit extenders bill.”

This refusal to move legislation that would help the unemployed and boost the economy comes just after the Federal Reserve warned in its latest statement that the economy is still exceedingly weak:

Household spending is increasing but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software has risen significantly; however, investment in nonresidential structures continues to be weak and employers remain reluctant to add to payrolls. Housing starts remain at a depressed level. Financial conditions have become less supportive of economic growth on balance, largely reflecting developments abroad. Bank lending has continued to contract in recent months.


More at the link ---

[Beetwasher]

1. These Are Horrible, Despicable People

n/t