The House GOP’s refusal to pass the extension of the payroll tax cut and unemployment insurance that the Senate passed overwhelmingly isn’t just silly, it’s hurting the economy right now, this very minute.
70% of our economy is consumer spending, this is the week before Christmas (kind of a significant week for consumer spending!), and Americans faced with an increase in their tax bill (typically about $1,000) or a cut-off in their unemployment benefits are probably going to spend less this season.
With the surprise and disappointment of the weekend, they might be returning stuff today, rather than buying more.
Those conservatives in the House sure are revolting, in more ways than one.