Liberal Democrats are stepping up their attacks on President Obama for his plan to extend a payroll tax break by a year.Put four million people to work? This guy's a regular comedian. If $110 billion would put four million people to work, Obama's failed stimulus should have eliminated unemployment entirely.
Rep. Peter DeFazio (D-Ore.) blasted Obama last week for his “stupid Social Security tax holiday,” arguing that money would be better used on more stimulative spending.
He and other liberal lawmakers fear the extended tax holiday might make a permanent cut more likely, thus slashing Social Security’s primary funding stream and threatening future benefits.
“It’s a unique tax break. You don’t just give away money, you have to borrow money to give away money, to restore the Social Security trust fund,” DeFazio said Friday. “If you’re going to borrow $110 billion, spend it on infrastructure [and] put 4 million people to work instead of pissing away 25 bucks a week, which is what we’re doing now.”
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