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Tag: Senate

  • Bill Clinton Meets with Senate Dems on Health Care

    Former President Bill Clinton knows just how high the political stakes are in the fight to overhaul America’s health care system. His failed attempt to revamp the delivery of medical care contributed to the Republican takeover of the House and Senate in 1994.

  • House Health Bill Unacceptable to Many in Senate

    Don’t look for the Senate to quickly follow the House on health care overhaul. A government health insurance plan included in the House bill is unacceptable to a few Democratic moderates who hold the balance of power in the Senate. They’re locked in a battle with liberals, with the fate of President Barack Obama’s signature issue at stake.

  • No Guarantees on Senate Health Bill’s Public Plan

    The focus of the health overhaul debate now shifts to whether Senate Majority Leader Harry Reid can persuade a handful of moderate senators to get behind his new proposal for a government-sponsored insurance plan.

  • Key Senators May Rebuff Obama on Health Care

    The Democrats’ control of a hefty majority in the Senate – plus the House – would suggest that President Barack Obama is within reach of overhauling the nation’s health care system this fall.

  • Dr. Boyce Money: Lost Your Job? Senators Might Help You

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    The Senate has been mingling with the idea of extending jobless benefits for those who’ve lost their jobs. The problem is that the politicians can’t quite make up their minds. A bill was passed last month in the House of Representatives, but the Senate has still been fighting over the details.

    The black community is in dire need of help from legislators, as our community has been hit the hardest by recent trends in unemployment.
    While overall unemployment is at a staggering 9.8%, African American unemployment is 15.4%. Black male unemployment is as high as 30 – 40% in some urban areas. Jobs are needed and benefits are needed even more. According to the Center for American Progress, the poverty rate for African American children is over 34.7%, while only 10.6% for white children. Economically speaking, black people are usually the state of economic recession.

    Typically, unemployed workers are eligible for up to 26 weeks of benefits, but that number has been extended twice by Congress. Now, workers are eligible for as many as 79 weeks of benefits. The current compromise proposed by Senator Max Baucus would give an extra 13 weeks of benefits in states hit hardest by unemployment, while those suffering less would get an extra 4 weeks. This approach has been disputed by some members of the Senate, who feel that all Americans should get the same extensions, regardless of where they live.

    The unemployment rate is expected to rise above 10%. Additionally, more than 1/3 of all unemployed Americans have been out of work for more than six months.

    One ray of hope for an economic recovery is the stock market. Anyone with a little extra money to invest was able to earn a 50% return over the past 6 months, which is truly phenomenal. The other bright side of the market rally is that the stock market is a leading indicator of economic growth: that means that when the market improves, the economy is expected to improve. So, while recent unemployment numbers imply that a recovery is going to be slow, the truth is that all is not lost.

    Keep your hope alive. Things are going to get better.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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