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For months, Democrats and Republicans in Congress have been talking about the need to come together on a plan to extend several policies that will expire at the end of the year. But with just a handful of days left before the holiday break, the two sides are only growing further apart on how to get it done.

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With the new year quickly approaching, the single most important thing for Congress to do (besides keep the government funded) is to reauthorize the federal extension of unemployment insurance. If they don't, more than 2 million unemployed people will lose their benefits by mid-February and the drag on demand for goods and services would hit the economy quickly and could send us back into a recession.

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Previewing the Obama Jobs Plan

September 7, 2011 - by Donny Shaw

Various news outlets are out this morning with a top-line number for the stimulus measure that Obama will be proposing before a jointy session of Congress tomorrow night -- $300 billion. According to the reports, most of that money would be used for extending current measures that are scheduled to expire soon. Just $100 billion or so would be spent on new stimulus measures, which is clearly not enough of an investment to create the levl of demand for goods and services that's needed to get businesses hiring. Let's take a look at the specifics.

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GOP Lining Up Against Obama Jobs Plan

August 22, 2011 - by Donny Shaw

The big tax idea being put forth by the Obama Administration, extending the payroll tax holiday for employees that is set to expire in January, is already running into opposition from congressional Republicans.

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President Obama on Monday announced the "framework" of a deal with congressional Republicans for dealing with the looming expiration of the Bush tax cuts. It's a two-year deal, and it includes a bunch of other stuff, all at a cost about $900 billion. None of it is offset, so this will be a direct increase in the deficit. Let's take a look at the specifics of what's included:

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Obama Readying Massive Tax Cut Package?

September 2, 2010 - by Donny Shaw

Remember that in-the-works Obama jobs proposal I wrote about the other day? Given that deficit hawks in the Senate have recently forced the Democrats to pare a $123 billion jobs bill back to a $33 billion unemployment insurance bill (H.R.4213), and that they have been blocking a $30 billion small business jobs bill (H.R. 5297) for over a month, I expected this new proposal to be pretty mild. But according to a report out tonight from Lori Montgomery at the Washington Post, the bill that the White House is preparing to unveil may cost the government as much as $400 billion in lost revenue:

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