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Unemployment Rates Reach New High
The U.S. Department of Labor (DOL) announced the unemployment rate for February 2009 at 8.1 percent, which is higher than it has been in the last 25 years. According to DOL’s figures, there were 681,000 jobs lost in December; 655,000 in January; and another 651,000 were cut in February. Analysts predict that unemployment will continue to increase and there are no signs of the rate dropping anytime soon.
Click here for the complete report including all unemployment figures.
Omnibus Bill Stalled in Senate
The House passed a new Continuing Resolution today, March 6, to maintain fiscal 2008 levels until midnight on Wednesday, March 10.
Senate Majority Leader Harry Reid (NV) called off his motion to end debate and to schedule a vote on the omnibus appropriations bill in the Senate on Thursday night, March 5, stating that he was at least one vote short of invoking cloture. The Senate took up the omnibus bill on Monday, March 2, and has since voted down all 12 of the amendments proposed by Senate Republicans. This delay will allow Senate Republicans to introduce 12 more amendments, which Democrats hope will give them the extra votes needed to pass the bill. The amendments will be up for vote on March 8-9, when the Senate hopes to end debate and hold a final vote on the legislation.
For a more comprehensive list of job training funding in the omnibus, click here.
Democrats Consider Reconciliation to Pass Obama’s Budget
Only a week after President Obama announced his budget plan for the 2010 fiscal year, House and Senate Democrats are deliberating whether to use a reconciliation process to move the agenda forward. Reconciliation, which is normally used to reduce the deficit, would block the use of a filibuster to stop the bill, meaning that Democrats would need only a 51 percent majority to move the legislation through the Senate. President Obama, who has given only a preliminary outline of his priorities but plans to release a detailed budget in April, has come under scrutiny from both Republicans and Democrats due to the budget’s high spending levels. However, Democrats have declared that they will move forward with as much of Obama’s plan as possible beginning with the 2010 budget resolution, which will be taken up in the House the week of March 30th. The resolution will not become law, but simply limit the amount of discretionary spending and establish parameters for mandatory-spending and tax policy for the fiscal year. It can also include reconciliation instructions, but many democrats are hesitant to move forward with the reconciliation process for fear of increased partisanship. The budget includes $13.3 billion in discretionary funding for the Labor Department and an unspecified increase in funding for the unemployment insurance system and back to work initiatives, including job training for veterans and ex-offenders.
To access a copy of the President’s budget proposal, click here.
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