Washington (CNN) - As the White House braces for new numbers coming out Friday that could show unemployment has reached double digits, senior administration officials tell CNN the president is planning to quickly sign legislationjust passed by Congress that will offer up to 20 additional weeks of unemployment insurance.
The legislation that will be signed Friday morning also aims to stabilize the housing market with a one-time extension of the $8,000 tax credit for first-time homebuyers. The bill also provides an additional tax cut for businesses still struggling in the uncertain economy.
The bill signing will come just three days after an off-year election in which voters in several key races said the sluggish economy was a major factor in their votes.
Perfect. Let's put even more people in houses they can't afford. Did we not learn ANYTHING about what happens when we do this? A couple more extensions and we'll have another entitlement program......we'll never get rid of it.
The right thing to do – both extend the unemployment benefits and extend the first-time homebuyers' tax credit. Hopefully the tax cut for businesses is for small to medium businesses. These measures will brighten the outlook for the unemployed and for the housing market as well.
NOW WE SEE WHY SEN. BOENHER MISINFORMS PEOPLE: Senator Boehner is as stupid as Palin: Today Boehner stood in front of a group of healthcare protestors holding up a booklet which he called the Constitution and quoted from it, everything he quoted was from the Declaration of Independence while several other Republican Senators stood behind him looking totally embarrassed but said nothing to stop him.
Its amazing how little thought needs to go into signing some measures, yet others can take forever...
I really thought that Obamessiah would have hurried up on his decision on what to do in Afghanistan after watching those flag draped caskets come off the planes at Dover AFB. But instead he is campaigining for Govenors that don't have a chance, playing golf and watching NBA games.
Thank You President Obama for caring about the Average American.
I wonder how this fits inot the obummer budger projection and how big our deficit will get? I think we should add a few more trillion.
Wasn't unemployment never to get over 8% if we hurried and passed his spending bill. Isn't that why he didn't give anyone a chance to read it because he preached fear of big unemployment numbers.
and he calls the republican party a party of fear mongering. I think they call it as they see it, and as reality shows it to be and not this pie in the sky democratic way of looking at things they do.
Obama helped increase the unemployment problem with his questionable policies, spending and 'threats' of more economy-killing ideas. I guess he should be the one to sign the bill.
Good news!!! It spent a long time in the Senate. Just look at it this way, the Republicans got to show there true colors. Shows why they are not the majority . And will lessen most likely next super Tuesday. The bright side Bush is no longer in office. If he were BOOMERANG!!! right back to the Senate.
It's about time. But why didn't he honor his campaign promise to exclude unemployment benefits from Federal income taxes. I got dinged for $2000 extra on 2008 taxes because he reneged on his promise. Also I worked half a year in 2008 so it elevated me up a couple tax brackets, a double tap. Is this the "Change" he promised?
Take note all you protesting teabaggers – President Obama just signed yet another tax cut for you. The first was contained in the Recovery Act (a.k.a. the Stimulus), which you supposedly oppose.
oh yeah..lets just continue the welfare checks..this is all about fooling the ones who continue to collect unemployment....anyone who continues to collect this just does not want to work, exactly what obama wants...welfare rats
I TOO thank President Obama for helping the Middle-class & working class who may be unemployed.
BTW..... EVERY American Worker PAYS for Unemployment Benefits, so this money will not add to the deficit!
Where were you "so-called-fiscal-conservatives" when Bush was doubling the national debt?
Did not hear any conservative complaining about wasting ...... $10 BILLION ....... a month in Iraq!
Citizens of the U.S.
Remember to vote against the 12 members of the House who voted AGAINST the extention of jobless benefits and the home tax credit when THEY run for reelection.
Their vote clearly shows either they don't care about their constituents or can't figure out that the economy will benefit from the income spent. 403 members who voted for the extensions do.
My Goodness can't some of you people be happy about anything that helps fellow Americans. I guess some of you don't have relatives, friends, neighbors or Church members that need help though they are not at fault as to what has happened. Shame on you mean, spiteful people. What has happened to some Americans? There are people that have worked hard all their lives that really need help.
As we live in times were the previlage accuses the unemployed as wellfare recipients I thank you Pres. Obama for helping us in this need.
Great news, however it's disappointed that we haven't done anything yet about extending the ARRA subsidy. Seems we have money for clunkers, house and none for healthcare.
Perhaps if he were pushing policies that would benefit the economy and the unemployment problems rather than his social government takeover to fool the welfare junkies, unemployment might not be a problem 10 months into his administration!
I'm so proud of our president. He is doing everything he can to fix the problems while making sure average, hard-working Americans who have lost their jobs aren't going hungry. If McCain would have won, we'd see bread lines around every corner!
Ummm...is anyone else thinking about a meter running on the additional debt we're piling up? The extension of benefits (for what, the second or third time now?) is an obvious sign that the stimulus gun was pointed in the wrong direction for job growth, thereby INCREASING the burden on the average, tax-paying American (and I emphasize those that ACTUALLY PAY TAXES). Only now are they starting to provide tax cuts to small businesses (who employ 90% of us) when a large, rational group of people have been saying that from the beginning.
But the housing credits? Haven't we seen this movie before? Giving houses to people who can't afford them in the first place. The $8,000 tax credits will mostly be used on existing homes and so won't even stimulate new home building and contracting business. What are they thinking? Start with stimulating job growth, then people make money, THEN they buy a house. Logic is crazy, right?!
The bill also provides an additional tax cut for businesses still struggling in the uncertain economy.
At least he did one thing to head off this perpetual unemployment problem. I will give him an A+ for this because I know it is against all of the advice he is getting from his liberal advisors.
Get government out of the way and businesses will accelerate a recovery and bring down unemployment. They really will be your best allies in this effort if you treat them like allies.
That is fine for those who are truly looking and cannot find anything but I have 2 relatives who are currently sitting on their butts, not looking and just delighted they will get to spend more time on their butts! Unfortunately that is the kind of abuse that is gonna happen. Just makes me sick while I bust my butt to make a living and am working 2 jobs to keep up with things.
Why not make people who are collecting unemployment do some type of service work to reap their benefits?
Leave it to the ultra-conservatives to criticize President Obama for this.
Tax credits for first-time homebuyers and the extension of unemployment benifits are both measures that the Republicans in Congress support.
But since Obama is ok with it, that means these people on the far right are against it. It's obvious that these people just want Obama's policies to fail so that they will have a solid reason to vote against him in 2012.
Life will suck for them if and when his policies succeed. It'll only guarantee another four years.
My husband is out of work and I was shocked to find out that even his unemployment benefits is still being taxed. We need jobs not just extension of unemployment benefits to have our family life back.
Obie needs to throw lots and lots of money into inoovations and research ang especially GREEN ENGERY. had we invested in these areas in the past 8 years, we stil could offshore jobs and still have AMPLE jobs.
.....while my neighbor and many like him, continue to do side jobs and draw unemployement (since Dec 2008). Oh, and he just bought a new truck, his wife a new SUV and they are on Medicaid for health insurance. It is hard to support anything the government wants to run when fraud is not being tackled first. It doesnt do any good to call it in..been there done that.......nothing.