The Biden solution to the country’s economic woes is to extend unemployment benefits and extend the Bush tax cuts for the middle class.

The Vice President tied the two together after the latest unemployment figures were announced on Friday. Biden said the report was “disappointing”. The unemployment rate, at a seven month high, is at 9.8 percent.

“No question, the report is disappointing,” Biden told reporters before a meeting with Treasury Secretary Tim Geithner, budget director Jack Lew and economic aide Jared Bernstein.

Geithner and Lew have been negotiating with Republicans to reach a deal on extending the Bush-era tax cuts. Biden said the discussions are continuing but no conclusions have been found.

“The tax relief for the middle class is also critical for the economy and the right things to do for American families,” Biden said.

Congress also should act immediately to extend unemployment benefits to the millions who will lose them at the end of the year, Biden said.

Instead of spending billions to extend unemployment benefits, why not allocate those funds to a “national small business fund”. This fund could encourage and promote small business growth (and jobs) by providing grants and 0 (zero) interest loans to entrepreneurs and small businesses that meet specific guidelines.

Throwing money at unemployment doesn’t solve the main economic problem in America – lack of jobs!

source: politico.com