What’s in it for the Democrats? The legislative language has NOT been written and is not finished. There is even word the negotiations are not finished. But one thing appears to be certain. There is no unemployment insurance extensions in the debt deal. There were three things the President has mentioned off and on that he’d push for as part of the debt deal.
01. Additional tax increases on the wealth after they received an extension of a tax break in December 2010
02. An extension of unemployment insurance for 14 million people unemployed
03. The closing of certain tax loopholes for corporations who don’t need tax loopholes, example: Oil companies that have been making record profits for the last two years.
Rep. Barbara Lee is already leaning NO on this deal. That the main sponsor of unemployment benefit legislation may vote NO should tell you something. If anyone reading this can find what is in this deal for the Democratic side be sure and let me know (e-mail: firstname.lastname@example.org). As Speaker Bohener said yesterday: “We got 98% of what we wanted.” Though everyone talks a big game about representing the “little guy” in Washington, it’s hard to find where the “little guy” is represented in this debt deal. Unless something is added or changed at the 11th hour, there is no provision for unemployment benefits of any kind I can find.