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Title: GOP Budget Cuts Would Kill 700,000 Jobs: Report
Source:
RawStory
URL Source: http://www.rawstory.com/rs/2011/02/ ... would-kill-700000-jobs-report/
Published: Feb 28, 2011
Author: By Sahil Kapur
Post Date: 2011-02-28 13:36:29 by Brian S
Keywords: None
Views: 3912
Comments: 4
Monday, February 28th, 2011 -- 12:30 pm WASHINGTON – The Republican budget proposal to sharply cut federal spending would cost 700,000 jobs through 2012, according to the independent analyst Moody's. In a new report obtained Monday by the Washington Post, Moody's Analytics chief economist Mark Zandi analyzes the House Republican budget proposal cutting spending by $61 billion this year and projects that it will curtail job growth. "The House Republicans’ proposal would reduce 2011 real GDP growth by 0.5% and 2012 growth by 0.2%. This would mean some 400,000 fewer jobs created by the end of 2011 and 700,000 fewer jobs by the end of 2012," Zandi concluded. The numbers challenge the GOP's philosophy that government spending cuts help create jobs and grow the economy, a view that puts the party at odds with Democrats. Republicans have invoked job creation as a top priority, vigorously campaigning on the issue and attacking Democrats for ostensibly being lackadaisical about unemployment. The House GOP majority labeled its measure to roll back health reform the "Repealing The Job-Killing Health Care Law Act." The report notes that Republicans are exercising "modest" but "meaningful" fiscal restraint, but serves as a warning that cutting government spending can sometimes hurt job growth. "While long-term government spending restraint is vital, and laying out a credible path toward that restraint very desirable, too much cutting too soon would be counterproductive," Zandi wrote. House Republicans passed their budget just over a week ago by a 235-189 margin, setting up a stand off with President Barack Obama and Democrats.
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#1. To: Brian S (#0)
Government jobs. That's wonderful news.
And private government contractors which is even better news as it will surely decrease all those under the table bribes.
"http://first-draft-blog.typepad.com/.a/6a00d8341c5ced53ef0148c7a28c4b970c-320wi"
Socialist ass-hats think "There will be no more money when the U.S. dollar has no value, until that time we can keep printing more." And yes, that IS from LF's answer to Ben Bernanke, go65, leading disfunctional and delusional socialist of the forum. "You want me to kill THE ENEMIES of Jappos, I'll kill THE ENEMIES of Jappos, Rebs, or Sioux, or Cheyenne... For 500 bucks a month I'll kill whoever you want. But keep one thing in mind: I'd happily kill you for free." Algren, "The Last Samurai" Anyone and everyone sucking off my tax money should get the boot.
The Republican budget proposal to sharply cut federal spending would cost 700,000 jobs through 2012
"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899
#2. To: jwpegler (#1)
Government jobs. That's wonderful news.
#3. To: Brian S (#0)
The Republican budget proposal to sharply cut federal spending would cost 700,000 GOVERNMENT jobs through 2012, according to the independent analyst Moody's.
#4. To: Rek (#2)
"Everything that can be invented has been invented."-- Charles Duell, Commissioner of US Patent Office, 1899
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