Unemployment still sits at double digits (approx 10%) in the U.S. At the end of this month, the extension of COBRA benefits for the newly and longer-term jobless is set to expire — unless the Democrat-controlled legislature passes yet another extension based upon President Obama’s so-called “paygo” law.

Emergency spending would be exempt from typical tax increases or cuts amidst the backdrop of a national deficit. Centrist Democrats, under pressure from more left-leaning colleagues, will probably ask for discretionary spending under this statute — further stoking the ire of Republicans who voted against it in the first place, citing a slippery slope over what would be deemed “emergency spending”. | LINK

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