July 20th, 2010
03:00 PM ET
10 years ago

Cafferty: Extend unemployment benefits without a way to pay for them?

 Join the conversation on Jack's blog.

Join the conversation on Jack's blog.

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.

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