It is a new year, 2014, and a new congress will officially begin tomorrow beginning with the senate. The senate will be the first to take up legislative business, and two important matters will be voted on tomorrow.
First, the Senate will vote to confirm Janet Yellen as Federal Reserve Chairwoman. Her views on monetary policy are of great concern to LLPH, and the fact that the senate (under Democrat Majority Leader Harry Reid) will not vote to audit the fed is of greater disgust to us. We may score against her confirmation and would therefore urge a NO vote on her confirmation.
Second, the Senate will vote on S. 1845, sponsored by Senator Jack Reed (D-RI). The bill is titled the Unemployment Extension Act, and LLPH will oppose this bill in its current form. While we support giving relief to those people who appropriately need this aid, we oppose extending unemployment insurance by increasing the debt on the backs of the next generation. Republicans and those who care about handling our fiscal crisis need to stand strong against increasing our debt.
At least, House Republicans say the $6.4 billion cost of extending benefits another three months should be paid for with deficit-reduction measures.
Without proper reforms or an offset of the $6.4 billion being added to our national debt, these unemployment benefits should not be renewed. Democrats will argue that it is an “emergency”, but we heard the same thing with Hurricane Sandy funding. In the Democrat’s world, everything is an emergency and we should keep spending. LLPH urges a NO vote on the cloture motion as well final passage of the bill until true reforms to the program or an offset are included.