Economic Recovery Measures

Explaining the "Double-Dipping" Provision

As the Senate looks for offsets for an unemployment insurance extension, there is one provision that has gotten some attention: ending "double-dipping" for those receiving both UI and federal disability benefits.

UI Offsets a Good Start, But Fall Short

Today, the Congressional Budget Office released their score of the proposal from Majority Leader Harry Reid (D-NV) to renew extended unemployment benefits in concert with other reductions in spending.

Offsetting A Long-Term UI Extension

The unemployment insurance saga continues. Today, Senate Majority Leader Harry Reid (D-NV) proposed an alternative unemployment benefit extension which would run through mid-November, in place of the three-month extension previously considered.

Unfinished Business for the New Year

The passage of the Bipartisan Budget Act was a positive move away from governing by crisis, and a demonstration that policymakers can meet self-imposed legislative deadlines. Yet substantial unfinished business remains, and much of it has significant fiscal implications. Below are some issues Congress should address early this year:

Stopgap Unemployment Benefit Extension Should Be Offset

At the end of 2013, Congress allowed extended unemployment benefits to expire, and as a result the maximum number of weeks for collecting benefits has declined from 73 to 26. While the White House and Congressional democrats have pushed for a one-year extension costing $25 billion, Sens.

The FOMC Tapers, But That's Not All!

In a move that has been discussed and anticipated for months, the Federal Reserve's Federal Open Market Committee announced that it would slightly scale back its current quantitative easing program (QE3). Specifically, it would slow its purchases of longer-term Treasury and mortgage-backed securities by $5 billion per month each, reducing the total monthly purchase from $85 billion to $75 billion.

Like Other Extenders, Unemployment Benefits Should Be Offset

Recently, several Members of Congress and outside groups have called for continuing extended unemployment benefits to allow the unemployed to collect for up to 73 weeks instead of 26.

Treasury Set to Exit GM By Year's End

The New York Times is reporting that the Treasury Department will sell its remaining shares in General Motors, bringing to an end its five-year involvement in the company. Treasury's holdings of GM stock have been quietly dwindling throughout the year, falling from about one-third of the company's stock in late 2012 to 2 percent after a sale two days ago.

The President's Housing Reform Proposals

Yesterday in Phoenix, one of the hardest hit areas by the housing bust, President Obama gave a speech that laid out his plan to strengthen the housing market. This was the second speech in a series President Obama plans to give laying out his principles and proposals to improve the economy.

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