By Robert Romano
At the end February, the payroll tax holiday will expire, along with
the last extension of unemployment benefits up to 99 weeks. That event
could provide Republicans an opportunity to have the Obama
Administration put its money where its mouth is on the economy.
Americans for Limited Government (ALG) President Bill Wilson has
called for Congress to bring an end to the extensions, citing Barack
Obama’s heralding the latest unemployment numbers that came out on Feb.
3. Then, Obama said, “the economy is growing stronger. The recovery
is speeding up.”
Said Wilson, “It’s time for Obama to put up or shut up on
unemployment benefits extensions up to 99 weeks,” noting that the White
House “wants to claim that the apparent drop in the jobless rate means
the economy is turning a corner.”
“If he really believes that the emergency is over, then it is time to
rescind these extensions that have cost taxpayers an additional $275
billion since 2009,” he explained.
The latest figures showed the headline unemployment rate dropping to
8.3 percent. Obama wants the political credit, so it may be time for
congressional Republicans to call his bluff.
To be certain, the headline number was indeed misleading, as it was
predicated on a shrinking pool of workers, Wilson said. “4.7 million
Americans who were a part of the labor force have simply given up on
looking for work since Obama took office, which is artificially keeping
the unemployment rate down.”
Get full story here.