Foreclosures and unemployment are directly related.

It was discourteous and downright rude of the Senate to have left for a lengthy Memorial Day holiday without seeing to the passage of the bill seeking extension of the expiry date for unemployment benefits. But that was nothing compared to what the Senate has done now.

After resting for over three weeks the Senate has returned but it is still dozing; no action is tangible. It means 90,000 unemployed have forfeited their benefits and that figure will increase to 1.6 million if the extension is not given the green signal prior to the 4th July celebrations. The average benefit received is $309 each week. The benefits lost will deprive the drowning citizens of cash to buy necessities like food, pay rent or mortgage dues and other requirements for bare survival. And foreclosures and unemployment are directly related.

The signs are clear. When the Senate will finally give the nod it will be a mean and contemptuous measure, slicing away jobless benefits and monetary aid to gasping states while maintaining tax breaks for the rich and those donors who have good connections in the corridors of power.

The problem is narrowed down to obtaining 60 votes to cross barriers imposed by the minority – the Republicans. But they are not the only culprits. There is more to the game than meets the eye.

The passage was deferred in the previous week because of many of the senators from the ranks of Democrats – John Kerry (Massachusetts), Mark Warner (Virginia) as well as Maria Cantwell (Washington). They worked hard to tone down the bill to the benefit of wealthy fund managers of investment firms. It is regrettable that the senators had their way.

This has been followed by more stage management. Sen. Olympia Snowe (Republican/Maine) is now attempting to cut off another tax clause in the bill. It attempted to raise about $9 billion in a decade by stopping the owners of small firms for paying themselves excessively as profits and giving themselves too little in salary so as to ultimately lessen their tax dues.

Simultaneously a good number of the legislators, mostly coming from the ranks of the Republicans are arguing that by extending benefits for the jobless and giving assistance to cash strapped states would be too expensive. It may good political talking but it is lousy economics. If the administration refrains from spending while the economy is still weak, especially on basic safety matters, the unemployment situation will worsen and obstruct all opportunities for making a recovery.

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