[/caption]This morning, the news pertaining to the jobless rate was higher than expected, and this underscored the need for the extended unemployment insurance benefits, which Obama signed later on in the day.
This site has written on this topic before, but we have to continue to do so because of the importance in light of the economic doldrums that we are going through.
For weeks, the Republicans and the Democrats have been fighting about the extension, positing their respective positions. But in the end, the Democrats mustered enough votes to allow the extension.
President Obama, on his part, used his “bully pulpit” to garner the needed support and votes, resulting in his singing of the unemployment extension.
The Washington Post is reporting that the President signed a six month extension, which restored benefits that were cut off since June for some 3 Million folks. These people have been out of work and are depending on these benefits. The extension will cost some $34 billion and the bill passed by a count of 272 to 152. The Republicans wanted the extension, but wanted the cost not to be borne by our treasury – the Democrats basically said not to worry about the deficit because there were people hurting here and now.
[caption id="attachment_5017" align="aligncenter" width="600" caption="President Barack Obama signs the Unemployment Compensation Extension Act of 2010 in the Oval Office, July 22, 2010. (Official White House Photo by Lawrence Jackson)"]
[/caption]The truth is this is a temporary measure and we cannot keep going back to the well before the water is finished. President Obama must find a way to produce jobs – no blaming of President George Bush, even if warranted, will longer suffice. The broken vessel is now yours, Mr. President and you must put the pieces back together.
Statement by President Barack Obama on Senate Passage of Unemployment Insurance Extension:
Tonight, the United States Senate finally overcame weeks of parliamentary roadblocks by a partisan minority, and voted to restore desperately needed unemployment insurance assistance to two and a half million Americans who lost their jobs in the recession. Americans who are working day and night to get back on their feet and support their families in these tough economic times deserve more than obstruction and partisan game-playing that happens too often here in Washington. I thank the members of the Senate who stood on the side of these working families today, and urge members of the House to pass this extension so I can quickly sign it into law. I also call on Congress to act on more proposals that support our economic recovery, including passing critical aid to our states and support to small businesses to create new private sector jobs.
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