“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Friday, December 3, 2010

More Unemployment Benefit Extensions?

Despite Wonderboy's public show of spending restraint, which was the subject of yesterday's post, he came out for more spending right after that stunt.

The topic, of course, is extension, for the zillionth time, of unemployment benefits. Somehow, this guy seems to think dollars spent for different purposes have different values.

Spending money on unemployment benefits lasting over two years is, to him, qualitatively different than spending the same amount of dollars on raising federal salaries.

What he fails to see is that, from a global perspective, it's all spending for which the US must borrow. And, thus, all suspect to our creditors.

How can we ask taxpayers to either pay more taxes now, or pay even more taxes in the future for current borrowings, just to extend unemployment benefits to unheard of terms?

If Congress had a more disciplined, reasoned framework for appropriations and spending, then we wouldn't be reading about such one-off spending requests so frequently. Instead, federal spending would truly be done by trading off priorities against each other- not simply spending to satisfy them all, then borrowing the money overseas.

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