Political Quotes

“Mr. President, the economic downturn has continued for a year-and-a-half now and has affected most Americans in some way. Congress has approved a number of measures, which I supported, aimed at helping those Americans. It recently extended unemployment benefits for those who do not have a job. It also expanded the eligibility requirements and duration for COBRA health benefits for those between jobs, and provided a subsidy for those premiums. I could not, however, support the so-called jobs bill put forward by the majority leader and recently passed by the Senate. A jobs bill should create jobs. Beyond some of the tax extenders, there is little in this bill that provides a foundation for jobs creation. The bill is essentially a large spending package that extends, through 2010, aspects of current law. The provisions it contains, such as long-term extensions of unemployment insurance, COBRA, and FMAP State aid, do not promote jobs growth, and, in fact, anticipate that unemployment will still be a serious problem for the remainder of the year. A negative correlation exists between unemployment benefits and work incentives. As President Obama's chief economist Larry Summers has written: Government-assistance programs contribute to long-term unemployment by providing an incentive, and the means, not to work. Each unemployed person has a 'reservation wage'--the minimum wage he or she insists on getting before accepting a job.…”