Friday, November 6, 2009

Obama continues to thwart economic recovery

Unemployed Americans are set to get up to 20 additional weeks of jobless benefits, while new homebuyers are poised to see the $8,000 tax credit extended into mid-next year.

The House approved the measures by a 403-12 vote Thursday afternoon, a day after the Senate passed the legislation. The bill now moves to the White House for the president's signature.

The closely watched legislation would extend jobless benefits in all states by 14 weeks. Those that live in states with unemployment greater than 8.5% would receive an additional six weeks. The proposal would be funded by extending a longstanding federal unemployment tax on employers through June 30, 2011.

President Obama announced this morning that he signed the bill.

Question: If we're really interested in reducing unemployment, does it make sense to tax the very people who create the jobs?

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