On the recordDecember 14, 2011
I see it in my own district in California. One of the things that we've been trying to do is to take up the President's call on this matter. The President, back in September, put forth the American Jobs Act. Many pieces of it. We'll talk about some of those pieces today. But in the American Jobs Act, there was an extension of the unemployment insurance, which economists, left, right, and center, all say it's the best way to stimulate, to keep the economy moving. He suggested that we extend it for those who have been unemployed for 2 years or more. And I think it's the only humane and compassionate thing to do, particularly here at the holiday season. He also made the suggestion that we continue the payroll tax reduction, which was 2 percent, that is from 5\1/2\ percent to 3\1/2\ percent. He suggested that the reduction be 3.1 percent. Now, we are as concerned as our Republican colleagues about the deficit, and the President is, too. And he suggested that this needs to be paid for. We cannot borrow money from China to do the unemployment insurance or to do the payroll tax deduction. Now, the payroll tax deduction, it's rather important. It's over $1,500 in the pocket of every working person in this Nation. That's an enormous amount of money for a person that's earning $10, $20 an hour. So he wanted to do that. How is he going to pay for it?…





