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Obama proposed relief; debt from unemployment benefits

Is the Presidents proposal a good one?

  • Yes; it gives immediate relief to States

    Votes: 3 75.0%

  • Yes; it is good political strategy to deal with it post 2012 election

    Votes: 2 50.0%

  • Yes; the Fed cannot bail out the States right now

    Votes: 0 0.0%

  • Yes; that's what Government does, "kicks the can" on big problems

    Votes: 1 25.0%

  • No; this issue has to be dealt with NOW

    Votes: 1 25.0%

  • No; all this does is shift bad gov't decisions on employers backs

    Votes: 1 25.0%

  • No; no one deserves 113 weeks of unemployment!

    Votes: 2 50.0%

  • No; other reason

    Votes: 0 0.0%

  • Rutabaga

    Votes: 0 0.0%
  • Total voters
    4
  • Poll closed .
Ockham

Ockham

Noblesse oblige
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Washington Post said:
By Lori Montgomery and Brady Dennis
Washington Post Staff Writer
Tuesday, February 8, 2011; 7:34 PM

States that have borrowed billions of dollars from the federal government to cover the soaring cost of unemployment benefits would get immediate relief from the Obama administration under a plan to suspend interest payments for the next two years.

The proposal, which will be included in the budget request President Obama will send to Congress next week, would allow states to avoid raising taxes on employers to cover the payments - which are projected to total $3.6 billion through 2012, according to independent estimates.

Obama also would suspend automatic hikes in the federal unemployment tax scheduled to hit employers in nearly half of the states by the end of next year.


But starting in 2014, Obama would target companies for sharply higher payroll taxes to help states replenish their depleted unemployment funds and repay their debts to Washington.

The proposal was described by an administration source familiar with Obama's budget, speaking on condition of anonymity because the budget has not been released. At a time when Washington is grappling with its own record deficits, this person said the president's proposal would avoid tax hikes on businesses when the economy is weak while ensuring that most states repay the $42 billion they have borrowed since the recession began in 2007.

Obama to propose relief for states burdened by debt from unemployment benefits
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This is short term relief. The burden of adding the existing unemployment extension as well as yet another extension of 14 weeks is put on the backs of employers some of which may have this tax DOUBLED.

Is the Presidents plan of deferring States unemployment burdens until 2014 a good idea?
 
Why make the other font smaller? It's just as important.
 
I like the idea but may be something that would be very sensitive, and also something best left 'till after 2012. That's if he's reelected, which we all know isn't going to happen.

But no one deserve 113 weeks of unemployment! We don't even get that in here! And I think our unemployment is absurd!
 
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Based upon current economic trends, states should be better able to deal with interest payments to the federal government in two years than they are now.
 
You mispelled rootabega :mrgreen:
 
Forcing both states to pay interest and employers to pay increased insurance rates at this time in the economic recovery process makes no sense. We want the states to spend their limited money on schools, roads, redevelopment, etc. We want employers to spend their limited money on purchasing new equipment and hiring new employees.
 
But starting in 2014, Obama would target companies for sharply higher payroll taxes to help states replenish their depleted unemployment funds and repay their debts to Washington.
Click to expand...
Have to love this quote, It's practically just saying that he's is going to go back to his radical lefist-ism if he gets re-elected. What a puppet, no he is simply ignoring off problems, especially financially and just providing at best short term "solutions" that will have minimal affect what so ever.
 
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