by Zach Carter, Media Consortium blogger

Congress finally authorized an extension of unemployment benefits on Wednesday, providing a critical lifeline to families across the country and an absolutely essential boost to the economy.

Weekly Mulch: How Reid’s Energy Bill Undermines Senate Climate Efforts

by Sarah Laskow, Media Consortium blogger

Yesterday, Senate Majority Leader Harry Reid (D-NV) introduced a limited energy bill that responds to the oil spill and promotes energy efficiency. Reid’s action is a signal that the Senate will not pass climate legislation before November, although Sen. John Kerry (D-MA) said that a climate bill could come up in the lame-duck session following the election.

by Annie Shields, Media Consortium blogger

It looks as if election-year strategies are trumping any actual problem-solving by Republican lawmakers. In the midst of one of the worst unemployment crises in U.S. history, Senate Republicans killed a jobs bill last Thursday by a 56-40 vote.

The job market in its worst state since the Great Depression and is putting tremendous strain on millions of Americans. Without action from Washington, D.C., the unemployment rate will remain elevated for years to come, and almost certainly above 9 percent through the end of 2010. Public esteem for economic policymakers isn’t doing so hot either. There are several simple steps that President Barack Obama and Congress could take to create jobs, but of late, neither have shown much interest in doing so.

In January, the press trumpeted the news that the Obama administration and the Democrats in Congress were finally going to deal with the raging epidemic of joblessness that is crippling our economy. They’re falling far short of their professed goals because job creation is just not a very high priority in DC these days.

By Zach Carter, Media Consortium blogger

Now that health care reform has finally been enacted, a host of critical economic issues are taking center stage, including financial reform, unemployment and deeply rooted economic inequality. But it’s important to note that with its health care vote, the U.S. House of Representatives actually approved a very important, and often overlooked financial reform: Student lending.

By Zach Carter, Media Consortium blogger

Through inaction and timid legislative negotiations, Congress just keeps letting the U.S. sink deeper and deeper into the economic abyss. Last week, Congress denied relief to the jobless and is currently poised to undercut a proposal that would rein in predatory lending. With unemployment out of control and banks pillaging citizens’ pocketbooks at every turn, the economy is in dire need of serious financial reform and a major jobs package.

I have now heard countless times that Democrats don’t have enough votes for the public option. Twenty-four senators and 120 representatives have signed a letter supporting the public option. Apparently, that’s still not enough. Serious people assure us that there just aren’t the votes, even to pass it through reconciliation where you only need a simple majority. You know, there is one way to find out.

Take the damn vote.

>By Zach Carter, Media Consortium Blogger

One year after President Barack Obama secured passage of his critical economic stimulus package, the U.S. Senate is finally taking anther look at how to create jobs and repair the economy. These issues are more important than ever, but absurd Republican obstructionism and timid Democratic negotiation are once again threatening good public policy.

This paper discusses Estate Tax and Generation Skipping Transfer Tax and their tie-in with the Jobs Bill. Senators Baucus and Grassley attempted to slip in estate tax provisions into the Jobs Bill. Rather than go along with massive tax break for the super-wealthy, Harry Reid cut the size of the Bill to avoid making an unwarranted deal.