Monday, October 19, 2009

Spending More

Democrats are having a heyday with all the tax and spend crap going on. Even though the economy is starting to recover (with less than a quarter of the 'stimulus' being spent, by the way), the Democrats are looking to spend EVEN MORE.

Democrats are considering extending unemployment and health benefits, as well as extending and perhaps expanding a popular tax credit for first-time home buyers and creating a new credit for companies that add jobs.

Extending unemployment benefits through 2010 would cost about $100 billion, according to the liberal Center on Budget and Policy Priorities.

It's unknown exactly how much it would cost to extend subsidies for laid-off workers to help them keep the health insurance their former employers provided, known as COBRA. That's because congressional leaders haven't settled on the length of an extension, or how to pay for it. But the current program, which covers workers laid off through the end of the year, costs nearly $25 billion.

Extending the homebuyer tax credit to next summer would cost about $16.7 billion, economists say. It's not clear how much the employer tax credit would cost. But a similar proposal that was dropped from the first stimulus package had a cost of $19.5 billion.

President Obama also wants Congress to approve $250 payments to more than 50 million seniors to make up for no cost-of-living increase in Social Security next year. The total cost: $14 billion.

Taken together, the proposals could add up to nearly $200 billion, looking a lot like another economic stimulus package.

Just don't call it a stimulus. They hate that.

You can find the original article here.

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