Better Way to Fund Unemployment

Democrats in the U.S. Senate voted Tuesday to borrow another $34 billion to pay for a temporary extension of unemployment benefits. In response, House Speaker Nancy Pelosi called the move “one of the most cost-effective ways to stimulate our economy.” Once again, Nancy Pelosi is dead wrong.

The truth is that adding another $34 billion in debt for future generations to worry about was not necessary. Republicans offered proposals on several occasions to work with Democrats to fund an extension of unemployment benefits through unused stimulus funds already appropriated.

Republicans supported efforts to extend unemployment benefits – so long as there was a way to pay for it. Republicans offered to work with Democrats in the majority to find ways to fund the extension using dollars already appropriated for other programs. Unfortunately, Democrats look at every problem as an opportunity to enact more debt instead of a reason to re-prioritize current spending.

Senate Democrats and Nancy Pelosi seem to believe that the only way to stimulate the economy is to borrow billions more for future generations to pay back. Their stimulus bill enacted last year created hundreds of billions of dollars in new debt, but has done little to create jobs. Now, they have moved to borrow tens of billions more to finance a temporary extension of unemployment benefits.

Democrats rejected Republican ideas on the original stimulus bill, on health care reform and now on unemployment benefits. It will be little surprise if the voters reject the Democrats later this fall. Voters are interested in solutions that will get our economy moving again, and Republicans are ready to provide them.