Senate fight likely over unemployment benefits

Mike has estimated that the lack of an extension to Federal UE benefits that impacted January 1st has reduced Treasury spending by an approximate $30B annual rate; $2.5B per month.

This reduction in the leading flow of USDs from the Treasury will hit the consumer non-discretionary firms directly in the revenues probably with a multiplier.

So this is going to be a pretty hard kick square in the balls to the Wal-Marts of the world and other discount retailers this month, not even to mention the moron removal of means of subsistence for their affected customers/households who have been thrown out of their unemployment benefits.

Senate Dems are taking a run at re-instating this flow while the GOPers seem to want any re-instated flow to be offset by other reductions, i.e. maintaining the January 1st $2.5B/mo. net reduction in Treasury flow.

So the moron-fest continues in earnest early this year for sure, the related story at the Washington Times.