On the recordApril 6, 2011
Before the Senator from Oklahoma leaves the floor, I wanted to join him in supporting the commonsense amendment he just outlined. The Coburn-Udall amendment would fix what I think most Americans, if not every single American, would be shocked to discover; that is, millionaires and billionaires have been drawing unemployment benefits. Now, unemployment insurance is a critical temporary safety net for Americans who need help to get by when they fall on tough times, but providing unemployment insurance for millionaires, much less billionaires, who do not need it for their basic necessities is fiscally irresponsible, to put it mildly. Frankly, it doesn't make much sense. I think Senator Coburn put it best when he said it is foolish. We all recall that for months last year we struggled to find ways to put unemployment benefits in the hands of Americans who were really struggling in the face of this tough economic downturn. It was controversial and we worked hard on that in the Senate. It was drawn out because unemployment benefits are expensive, but I supported extending those benefits for out-of-work Americans because they help. We found a way, ultimately, to pay for them. But little did we know, in taking care of these good Americans, it was made even harder because literally--and this number astonishes me--thousands of millionaires and billionaires were abusing the system to draw extra payments for themselves. So it increased the price tag for all the rest.…





