Will the new Congress authorize another unemployment extension? (invasion, retirement, working)

[jznomoney]

The media is reporting lots more about unemployment now. Maybe this will put pressure on them to pass a bill. In June/July it wasn't even heard of really.

[Secchamps98]

Originally Posted by Who?Me?!

You are NOT one of the 2% of the wealthiest Americans who got Bush's Welfare Check in the form of a huge tax break which they did NOT create new jobs with....why you are their defender while their boot is firmly on your neck is beyond belief!

I am in the 2% class. I worked 15 yrs to get there with lots of sacrifices. I did not ask for AIDE along the way. If you look, there was a low % of unemployment in the first several yrs following the Bush tax breaks. Things have only gotten worse the last few yrs. Yes I am defending the tax cuts. Again, if I pay 60K in income taxes yearly, give me a reason why I need to pay more? I would like to get off the emotional, oh..you can afford it, they need help stuf. Tell me, why should someone who pays over 25% of their income (after deductions) and 60K a yr pay more when other don't pay a dime in income taxes?

If it is to hard for others to pay, then we should stop spending....that simple, in my famly, when we run out of money we don't spend...we go with out.

[Secchamps98]

Originally Posted by workingclasshero

guess you havent been listening

barney frank...criss dodd...fannie/freddie...clinton....

there are TWO main problems , that is caused 'wall street' to collapse............JOBS and HOUSING...and they go back to BEFORE bush



let this INFORM you,....... these problems stem from: 1993, 1995, and 1999 and you can thank the liberals for it, and most of it goes back to the clinton era. why because ECONOMICS run in 10(+/-4) year CYCLES and what we are facing NOW is in DIRECT RELATION to what happened back in the 90's

1... 1993 NAFTA-originally pushed by Brzezenski and his puppet carter,,moved along by reagan----negotiated by another brezezenki puppet bush1--- passed in 1993 by the democrat controlled congress, pushed by clinton, signed by clinton-inceased with CAFTA by bush2--the consequence ...... 60+ million HIGH PAYING jobs have been lost, 2 trillion worth of debt from the lost wages.(and obamy wants to increase it too,,,hmmm)

2....1995 clinton (through his chief of HUD (Henry Cisneros and later his second chief andrew cuomo)) eased the rules on obtaining mortgages allowing more 'exotic' mortgages and 'no-doc/low doc' mortgages-----------the consequence...... ......housing SKYROCKETED causing low inventories causing a 'not normal' increase in home prices, sellers got greedy, buyers got even greedier (looking to PROFIT in a skyrocketing market by flipping) and bought THINKING that prices would still increase and their ADJUSTABLE mortgage would pay it self off in MINIMUMAL years.......EVEN THOUGH THESE INCREASES IN HOME VALUES WERE TOTALLY UNHEARD OF, AND MORTGAGE RATES WERE AT 40 YEAR LOWS( what did they think an adjustable mortgage gotten at 40 year lows would do in the term(3 months-3years) when it adjusted...of course it would go up, their CONTRACT even said after the term it would be 6% PLUS PRIME)))
For many potential homebuyers, the lack of cash available to accumulate the required downpayment and closing costs is the major impediment to purchasing a home. Other households do not have sufficient available income to to make the monthly payments on mortgages financed at market interest rates for standard loan terms. Financing strategies, fueled by the creativity and resources of the private and public sectors, should address both of these financial barriers to homeownership.

The above is the start of the mortgage meltdon: ....Clinton's National Homeownership Strategy


then add to the fire:
1996 The Telecommunications Act of 1996 (The Act was claimed to foster competition. Instead, it allowed industry consolidation whose actions reduced the number of major media companies from around 30 in 1993 to 10 in 1996, and reducing the 10 in 1996 to 6 in 2005.) causing MONOPOLIES, which can RAISE PRICES

1998 The administration does not allow drilling for OUR OWN OIL..the liberals say 'it will take ten years before we seee the oil'...guess what its been ten years

1999 Clinton DEREGULATES the banking industry

2000 clinton signs the China trade bill

2000 Commodity Futures Modernization Act of 2000..(which paves the way for ENRON)

2000/1 clinton pushes to get china into the world bank

2003/4/5 fanny and freddie...the liberal opposition leaders (barney frank and cris Dodd) say "there is nothing wrong with fanny/freddy..its a witch hunt"........boy does barney have egg on his face now




so endeth the lesson

Nice....wish people who argue on emotion and sound bites would actually read a bit before speaking....

[TruckDriver33]

Originally Posted by Secchamps98

I am in the 2% class. I worked 15 yrs to get there with lots of sacrifices. I did not ask for AIDE along the way. If you look, there was a low % of unemployment in the first several yrs following the Bush tax breaks. Things have only gotten worse the last few yrs. Yes I am defending the tax cuts. Again, if I pay 60K in income taxes yearly, give me a reason why I need to pay more? I would like to get off the emotional, oh..you can afford it, they need help stuf. Tell me, why should someone who pays over 25% of their income (after deductions) and 60K a yr pay more when other don't pay a dime in income taxes?

If it is to hard for others to pay, then we should stop spending....that simple, in my famly, when we run out of money we don't spend...we go with out.

Give us a reason why we should borrow $700B from China and Japan over the next 10 years so that it can go directly into your pocket. The middle class and lower class Americans will use the money to keep the economy going while you millionaires are sitting on over a trillion dollars that is just drawing interest for you. Ya I would be wanting more money to put into the bank to draw more interest, oh ya. How much is needed to extend the UB deadlines? Not much compared to the above numbers.

[blazertrek50]

Correct me if I am wrong but cannot Obama continue the extension by the use of an "executive order"? I read this somewhere. Now the question is does he have the "guts" to do this.

[Secchamps98]

Originally Posted by TruckDriver33

Give us a reason why we should borrow $700B from China and Japan over the next 10 years so that it can go directly into your pocket. The middle class and lower class Americans will use the money to keep the economy going while you millionaires are sitting on over a trillion dollars that is just drawing interest for you. Ya I would be wanting more money to put into the bank to draw more interest, oh ya. How much is needed to extend the UB deadlines? Not much compared to the above numbers.

For one...this is my money..

Either we should cut spending/extend tax cuts for all.....

700 Billion over 10 yrs for high earners
2 Trillion over 10 years for low and midle class earners (don't forget this amount..which is 3x the 700 Billion amount)

Or we raise taxes on all....so that we all can pay our fair share.
For your information, the millionares line is old. I spent the first 15 yrs in my adult life with less than a 15K yearly income while I safrificed to get ahead.

The 700 Billion belongs to those who earn it (not the Govt., nor people wanting a continuation of social programs)...an easy way to not borrow is not to spend ...

Here are some places to cut - and note they include both Dem and Repup ideas

1. 5-10% off Defense Spending
2. Gradually raise retirement age over the next 50 yrs for SS by a couple of years so it is solvent for all
3. Tweak Medicare, but maintained for our elderly
4. Get rid of Earmarks
5. Decreae Foreign Aide

Also, if we are worryingabout Revenue, than ask the 47% of people who pay no income taxes to pay for some of ther Govt services...event if it were at a nominal 5% rate...

[Domination83]

Originally Posted by SourD

Get on the phone with your Dem Congressman and tell them to use unspent stimulous money for it. Problem solved.

The dems are as useless as the republicans. Perhaps a bit less sinister though.

[diorgirl]

Originally Posted by blazertrek50

Correct me if I am wrong but cannot Obama continue the extension by the use of an "executive order"? I read this somewhere. Now the question is does he have the "guts" to do this.

This call for an executive order to extend federal unemployment benefits comes up periodically. It's not a question of whether Obama has the "guts" to issue an executive authority -- the issue is that he has no legal authority to do it.

In fact, the Supreme Court has ruled that U.S. Presidents can use executive orders to clarify laws passed by Congress or to ensure that a law is carried out -- but executive orders cannot be used to make new law or to change the mandate of existing laws. In the case of federal unemployment benefits, adding a new Tier or extending expired benefits would entail "making new law."

Background:
Until the 1950s, there were no rules or guidelines outlining what the president could or could not do through an Executive Order. However, the Supreme Court ruled in Youngstown Sheet & Tube Co. v. Sawyer, 343 US 579 (1952) that Executive Order 10340 from President Harry S. Truman placing all steel mills in the country under federal control was invalid because it attempted to make law, rather than clarify or act to further a law put forth by the Congress or the Constitution. Presidents since this decision have generally been careful to cite which specific laws they are acting under when issuing new Executive Orders.
List of United States federal executive orders - Wikipedia, the free encyclopedia

BTW, as an attorney, Barack Obama's specialty is Constitutional law, so he's not about to take on the Supreme Court over this issue. Further, he has been meticulous in his use of executive orders to date; a list of his Executive Orders is available at:
Executive order (United States) - Wikipedia, the free encyclopedia

[Gabriel.S]

Originally Posted by diorgirl

This call for an executive order to extend federal unemployment benefits comes up periodically. It's not a question of whether Obama has the "guts" to issue an executive authority -- the issue is that he has no legal authority to do it.

Precisely!

[JMT]

This is a not-so-gentle reminder that political smack is not allowed in this forum. If one more person makes a political statement in this thread, this thread will need to be moved to the Politics forum, and the offending poster will receive an infraction. Please contribute to the thread without making snide political comments or editorials about elected officials or those who voted for them.