Between 1984 and 2009, the average net worth of American families has decreased by about .7 percent. But for the folks in Washington that we elect year after year to make laws for us and spend our money, these past few decades haven't been so bad. Over the same time period that average Americans experienced a slight decrease in their net worth, members of Congress, on average, have enjoyed a increase in their worth of about 159 percent.Read Full Article
Roll Call has a good piece today on the "glacial" pace of the 112th Congress so far and the fact that it's going to get even slower from here on out. The problem, of course, is that neither the Republicans who control the House or the Democrats who control the Senate are working with an eye towards the other chamber. Particularly in the House, the legislative docket is being used more as a political platform than a means to make laws and solve the problems facing the nation.
"Where are the jobs?" is, of course, the relevant question here. So far this year we've seen votes on divisive program cuts, stopgap bills to patch the budget, extending the government's spying powers, and somecheap fluff, but there's been no honest work on legislation addressing the jobs crisis that could pass both chambers and actually help people. Below is a list of the bills that have been signed into law so far this year. We're facing a deeper and longer lasting jobs crisis than anything we've seen since the Great Depression, but you wouldn't know it looking at the output of the federal legislature:Read Full Article
Job losses in the recession peaked almost exactly two years ago, and the situation has barely improved since. Current law allows unemployed workers to receive a maximum of two years of unemployment insurance benefits, so millions of people who lost their jobs in the recession are getting cut off from government support right now with little chance of finding work. These folks are often referred to as "99ers," 99 being the maximum number of benefit weeks. Despite the situation, House Republicans yesterday used an arcane rule to block an amendment that would have provided 14 more weeks of benefits for thRead Full Article
Every week, 35,000 unemployed Americans reach the end of their insurance benefits without finding new jobs and join the ranks of a growing group of recession victims known as the "99ers." According to the Congressional Budget Office, there are at least 1.4 million 99ers right now, and with the unemployment rate expected to stay high for several years, it's statistically certain that that number will increase dramatically in the coming months.
Given the facts of the situation, some congressional Democrats are pushing legislation to extend the unemployment insurance lifeline to help relieve the hardship these people are facing. On Wednesday, Rep. Barbara Lee [D, CA-9] reintroduced a bill in the new Congress that would add 14 weeks to the current federal unemployment insurance system and provide those benefits retroactively for people who have already exhausted all their benefits. Lee introduced her bill, the Emergency Unemployment Compensation Expansion Act, with 47 co-sponsors -- all Democrats -- and according to rumors she is already up to 60.Read Full Article