Biden calls for action, touts ‘encouraging signs’ for economy
Vice President Joe Biden warned Saturday that congressional
inaction on an extension of unemployment insurance benefits and tax
cuts for the middle class will put hundreds of thousands of jobs at
risk just as the economy is showing signs of recovery.
With President Obama returning from a surprise trip
to Afghanistan and on the heels of a lackluster jobs report, it was
Biden who delivered the president’s weekly radio address and sounded
the alarm on the need to get unemployment benefits and middle class tax
cuts through Congress before the lame duck session wraps.
to Afghanistan and on the heels of a lackluster jobs report, it was
Biden who delivered the president’s weekly radio address and sounded
the alarm on the need to get unemployment benefits and middle class tax
cuts through Congress before the lame duck session wraps.
{mosads}”The combined economic blow of raising taxes on the
middle class and cutting two million Americans off of unemployment
insurance would wind up costing the country hundreds of thousands of
jobs,” said Biden. “And, to say that during these challenging times, we
cannot afford to provide a lifeline to millions of Americans, but we
can afford to give tax cuts to the wealthiest two percent is not just
bad economic policy, it is also wrong.”
middle class and cutting two million Americans off of unemployment
insurance would wind up costing the country hundreds of thousands of
jobs,” said Biden. “And, to say that during these challenging times, we
cannot afford to provide a lifeline to millions of Americans, but we
can afford to give tax cuts to the wealthiest two percent is not just
bad economic policy, it is also wrong.”
Biden said Congress must act before the end of the
year to “extend these needed unemployment benefits” and “bolster
economic growth by preserving tax cuts for the middle class.”
year to “extend these needed unemployment benefits” and “bolster
economic growth by preserving tax cuts for the middle class.”
The vice president praised the vote in the House
this past week to extend the Bush-era tax cuts for families making
$250,000 and less and called on the Senate to act.
this past week to extend the Bush-era tax cuts for families making
$250,000 and less and called on the Senate to act.
Still,
it appears unlikely Senate Democrats stand much of a chance of getting
an extension of the cuts for just the middle class through the upper
chamber.
it appears unlikely Senate Democrats stand much of a chance of getting
an extension of the cuts for just the middle class through the upper
chamber.
Despite an increasingly hard line from Democrats on
the tax cut issue toward the end of the week, the White House has
signaled its willingness to compromise with congressional Republicans
and temporarily extend the Bush-era tax cuts across the board.
the tax cut issue toward the end of the week, the White House has
signaled its willingness to compromise with congressional Republicans
and temporarily extend the Bush-era tax cuts across the board.
It has infuriated many on the left, who have been
increasingly strident over the past week in denouncing Obama’s posture
on the tax cut issue. The Progressive Change
Campaign Committee is running a TV ad hitting the president with his
own words on the 2008 campaign trail. The spot features a clip of Obama
promising to let the tax cuts for the top two percent expire.
increasingly strident over the past week in denouncing Obama’s posture
on the tax cut issue. The Progressive Change
Campaign Committee is running a TV ad hitting the president with his
own words on the 2008 campaign trail. The spot features a clip of Obama
promising to let the tax cuts for the top two percent expire.
In the weekly radio address, Biden made the call
for swift Congressional action while touting “encouraging signs” of
economic growth in recent months. While noting that the economy has
grown in five straight quarters and claiming “healthy gains” for the
auto industry and manufacturing sector, Biden acknowledged that
Friday’s jobs report was “a sobering reminder” of the economic
challenges still ahead.
“While we saw another month of job growth in November, it just wasn’t enough,” said Biden.
The
most recent jobs report saw the unemployment rate climb to 9.8 percent
along with the creation of just 39,000 jobs over the past month.
most recent jobs report saw the unemployment rate climb to 9.8 percent
along with the creation of just 39,000 jobs over the past month.
The vice president made no mention of a handful of
other Democratic lame duck priorities in the address. Congress is still
at odds over the START treaty, a repeal of “Don’t ask, don’t tell” and
the DREAM Act, all of which Senate Democrats are still hopeful will get
done before the end of the year.
other Democratic lame duck priorities in the address. Congress is still
at odds over the START treaty, a repeal of “Don’t ask, don’t tell” and
the DREAM Act, all of which Senate Democrats are still hopeful will get
done before the end of the year.
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