Late last week the U.S. Senate failed to move a bill that would extend essential fiscal relief to states, as well as fund temporary unemployment insurance provisions passed under the American Recovery and Reinvestment Act.
As a result, the Employment Security Commission estimates that 20,000 North Carolinians will lose unemployment benefits that they would spend quickly and close to home, boosting the local economy and helping local businesses avoid layoffs.
In addition, North Carolina won’t receive more than $340 million in federal assistance, forcing even deeper spending cuts than we’ve already endured in the face of an unprecedented drop in revenues brought on by the recession.
Basically what she’s saying is that it’s good economic policy to continue to remove money from the hands of people with jobs and continue to shovel into the hands of people who’ve been out of work for more than 99 weeks. Now, I’m not saying that these aren’t good folks. That they don’t deserve the money or wouldn’t appreciate the help. All I’m saying is that Ms. Forter Sirota thinks it continues to make sense to shift money from “A” to “B”.
Further, she mentions in the 3rd paragraph, that she feels it’s wise to continue to tax people in States other than North Carolina to help the state of North Carolina pay our bills. I, for one, resent having my tax money sent to California for them to continue to spend foolishly. I imagine that somewhere, someone feels the same about their money and our State.
If we don’t have the money, then we need to cut our spending.
When, Ms. Forter Sirota, will enough spending be enough for you?