This week the House passed HR 3548 that extends unemployment benefits in states with unemployment rates over 8 ½ percent for an additional 13 weeks. The measure also continues the popular $8,000 tax credit for first time homebuyers and adds a new $6,500 tax credit for homebuyers who are currently homeowners.

M. Speaker, I know these are very popular programs, but I believe that they are taking us in exactly the wrong direction. By increasing taxes to finance these programs, the government is placing increasing burdens on the economy that I believe is actually making the recession worse. By raising taxes to help the unemployed, it makes more unemployed. And by paying people to buy homes, it is creating yet another housing bubble that will continue to drain the resources of our nation until it bursts.

Let me walk through both of these concerns.

Under this bill, unemployed workers in states like my home state of California can draw up to 99 weeks of unemployment benefits – almost two full years. I realize the quiet panic that accompanies every waking and sleeping moment of unemployed families as they wonder from one day to the next how they’re going to get by. But the only way out of that nightmare is genuine employment.

There’s a reason that California suffers one of the highest unemployment rates in the nation: it has one of the highest tax and regulatory burdens in the nation. Business and investment and the jobs they create flee such hostile environments and seek out less expensive and less burdensome harbors. One need only watch the domestic migration within our own nation to see this happening right now.

According to the Congressional Budget Office, this bill imposes a net tax increase of $2 ½ billion on our economy at a time when it can least afford it. That means higher unemployment.

Family breadwinners can see the additional unemployment checks in their hands, and that’s why this bill is so popular. But what they can’t see are the jobs that could have ended their agony, but that have now disappeared in order to pay the higher taxes to support those unemployment checks.

It is a vicious downward spiral that the supporters of the bill have already tacitly acknowledged when they admitted that they’ll have to return before the end of the year to extend the bill yet again.

Simply stated, we cannot help the unemployed by creating more of them.

The second part of this bill is equally popular and it is equally delusional. It extends and expands tax credits for homebuyers to buy homes they otherwise couldn’t afford.

Have we learned nothing from the past year of economic hardship? The catalyst for the current recession was a housing bubble created when government policies encouraged housing lenders and borrowers to make and take loans to buy homes that everybody knew those borrowers couldn’t afford.

What’s our response? It is to provide additional tax money to encourage homebuyers to purchase homes that they otherwise couldn’t afford. And we’re doing this just weeks after watching how the “Cash for Clunkers” program created the same artificial bubble in the automobile market that came crashing down as soon as that program ended.

A society in which billions of dollars are extracted from its economy by its government in order to pay people to buy stuff they can’t afford has a rendezvous with a grim accounting. And the longer these programs continue, the grimmer that accounting will be.

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Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."Pointing toward a recession, grim government statistics recently showed the number of new jobs actually fell in February, with nonfarm payrolls tumbling by 63,000, the biggest monthly decline in almost four years. The unemployment rate dipped to 4.8% from 4.9%, but that was due to a 450,000 decline in the labor force, suggesting that those were discouraged workers who had given up the job hunt, according to some analysts.

Treasury Secretary Henry Paulson recently told lawmakers that it would be "unprecedented" to extend benefits at the current unemployment rate, and that it's never been extended when unemployment is below 5.7%. "And it would send a message to the world, which I think is the wrong message here," Paulson said.

Yet, data indicates that it's taking a long time for folks to find new jobs. In February, the average length of time people were out of work was 16.8 weeks, according to the Labor Department. Just prior to the recession that stretched between March and November 2001, the average length of unemployment was 12.8 weeks. And just before the recession beginning in 1990, the average weeks unemployed was 11.6.

"Many economists debate whether we're in a recession or on the verge of one," said Ken Goldstein, labor economist at the Conference Board. "What's important is that people are behaving as if a recession is already here."

Here's an even grimmer fact: Benefits typically run out after 26 weeks, and almost 18% of those unemployed in February had been out of work for more than that time period. That level is up from just under 12% in February 2001, the month prior to the beginning of the last recession.

The canary in the coal mine for Halas is that she is seeing more and more of her clients evicted.

"It's so difficult because they are going through a lot financially," she said. "So many of our clients work multiple jobs to make ends meet."

great blog post. i like it a lot.
propaclean is the best cleaning services in london and we have been providing our services
from many years.we are providing our service in residential and commercial properties
of London and other places of London. If you need any cleaning services work then feel
free to contact us at Tel: 0845 634 1101 or AFTER office HOURS: 07950 743 855

Thank You

cleaning services london

No not at all. We already have an empty suited moron who is doing just fine. What you need to ask yourself dickweed, is if Bachman knows how many states there are. If Bachman knows the difference between The Marine Corps and a Marine Corpse. You have a lot of gall even asking a question like this. Here is my question for you. Iran has announced they are going to launch a monkey into space...when will Obama be back? Will he be the Elton John"Rocket Man"? Get a life moron, you show no more intelligence than the raghead you voted for..

"Is rio orange war always comparateur forfait inevitable ?"
MaximB

What foriegn policy led to the Cuban Missile Crisis, what made it such a serious event? What policies led to the failed Bay of Pigs invasion of Cuba?.

"Is rio orange war always forfait b and you inevitable ?"
MaximB