After weeks of haggling - the Senate is one step closer to extending unemployment benefits.
Two Republicans joined Democrats - in breaking the GOP filibuster - against extending the benefits through November. Republican leaders had earlier blocked a vote several times. They argue that any benefits extension should be offset by spending cuts. And they have a point.
This nation is quickly headed down the road to insolvency. We're more than $13 trillion in debt. And because the Democrats didn't bother to offer a way to pay for the benefits extension, another $34 billion will simply be added to the deficit.
President Obama tore into Republicans ahead of the vote... arguing that they were operating on a "misguided notion" that a new bill would discourage people from looking for work. Mr. Obama says the unemployed aren't looking for a handout, that they desperately want to work. The president described the GOP as hypocrites for voting for these benefits under Pres. Bush... but not now.
To read more and contribute to the Cafferty File discussion, click here.