SgtMeowenstein
Rookie
- Feb 2, 2011
- 627
- 67
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- Thread starter
- Banned
- #41
You beat me to it.
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So, where, again, are the people who scoffed at my previous statement that the GOP did not have a job creation plan,
they had a job elimination plan?
I missed it, but support any plan that leads to a complete shut down of the Federal Government for the next year.
Easy for you to say since you don't live here.
Cutting jobs has been the GOP purpose since Obama took Office. Nothing will hurt Obama's chance for re-election more than rising unemployment. If they do a really good job, they may just drive the country into an even worst recession assuring a GOP sweep. Make no mistake, politics is not about what's best for the nation. It's about what best for the politician first, the party second, and the nation third.A new report by Moody's economist Mark Zandi, says the House GOP's proposed cuts could cost 700k jobs and hurt the already unsteady recovery. This new report follows another report by Goldman Sachs, which says the GOP spending cuts would slow growth by 2 percentage points in the second and third quarters of this year.
GOP spending plan would cost 700,000 jobs, new report says
The report, by Moody's Analytics chief economist Mark Zandi, offers fresh ammunition to Democrats seeking block the Republican plan, which would terminate dozens of programs and slash federal appropriations by $61 billion over the next seven months.
Zandi, an architect of the 2009 stimulus package who has advised both political parties, predicts that the GOP package would reduce economic growth by 0.5 percentage points this year, and by 0.2 percentage points in 2012, resulting in 700,000 fewer jobs by the end of next year.
His report comes on the heels of a similar analysis last week by the investment bank Goldman Sachs, which predicted that the Republican spending cuts would cause even greater damage to the economy, slowing growth by as much as 2 percentage points in the second and third quarters of this year.
Zandi also had bad news for liberal Democrats who are resisting sharp spending cuts: Bringing deficits down to sustainable levels will require more than a growing economy. Even if the economy recovers as expected, he writes, lawmakers will have to cut about $400 billion a year through the rest of this decade to narrow the gap between spending and revenue, and stop adding significantly to the national debt.
"Significant government spending restraint is vital, but given the still halting economic recovery, it would be counterproductive for that restraint to begin until the economy is creating enough jobs to bring down the still very high unemployment rate," Zandi writes. "Shutting the government down for any length of time would also be taking a big chance with the recovery, not only because of the disruption to government services, but also due to the potential hit to the fragile collective psyche."
Lawmakers are facing a Friday deadline to approve a new measure to fund the government through the remainder of this fiscal year; the current funding bill is set to expire. Republicans insist the new measure should include deep cuts; Democrats say they are willing to cut spending this year, but not nearly as much.
LOL, if I recall, the Republicans won in a historic ass kicking of the Democrats this last election on the promise, THEY WOULD CUT SPENDING.
too bad you lefties didn't PAY ATTENTION.
I guess I must not have been paying attention, because I missed it when they said they were going to cut jobs.
Actually they ran on the bizarre claim that cutting spending would increase jobs.
A new report by Moody's economist Mark Zandi, says the House GOP's proposed cuts could cost 700k jobs and hurt the already unsteady recovery. This new report follows another report by Goldman Sachs, which says the GOP spending cuts would slow growth by 2 percentage points in the second and third quarters of this year.
GOP spending plan would cost 700,000 jobs, new report says
The report, by Moody's Analytics chief economist Mark Zandi, offers fresh ammunition to Democrats seeking block the Republican plan, which would terminate dozens of programs and slash federal appropriations by $61 billion over the next seven months.
Zandi, an architect of the 2009 stimulus package who has advised both political parties, predicts that the GOP package would reduce economic growth by 0.5 percentage points this year, and by 0.2 percentage points in 2012, resulting in 700,000 fewer jobs by the end of next year.
His report comes on the heels of a similar analysis last week by the investment bank Goldman Sachs, which predicted that the Republican spending cuts would cause even greater damage to the economy, slowing growth by as much as 2 percentage points in the second and third quarters of this year.
Zandi also had bad news for liberal Democrats who are resisting sharp spending cuts: Bringing deficits down to sustainable levels will require more than a growing economy. Even if the economy recovers as expected, he writes, lawmakers will have to cut about $400 billion a year through the rest of this decade to narrow the gap between spending and revenue, and stop adding significantly to the national debt.
"Significant government spending restraint is vital, but given the still halting economic recovery, it would be counterproductive for that restraint to begin until the economy is creating enough jobs to bring down the still very high unemployment rate," Zandi writes. "Shutting the government down for any length of time would also be taking a big chance with the recovery, not only because of the disruption to government services, but also due to the potential hit to the fragile collective psyche."
Lawmakers are facing a Friday deadline to approve a new measure to fund the government through the remainder of this fiscal year; the current funding bill is set to expire. Republicans insist the new measure should include deep cuts; Democrats say they are willing to cut spending this year, but not nearly as much.
The House Republicans’ proposal would reduce 2011 real GDP growth by 0.5% and 2012 growth by 0.2 percentage points This would mean some 400,000 fewer jobs created by the end of 2011 and 700,000 fewer jobs by the end of 2012.
A government shutdown lasting longer than a couple of weeks would do much more damage to the economy.
Lawmakers are likely to split the difference between the administration and House Republican proposals. This isn’t ideal fiscal policy, but the economy will be able to manage through it.
A compromise could send an encouraging signal about the more serious budget battles to come.
Course you forgot to mention that the same report says that a government shutdown, which is what the Democrats want, will cause MUCH MORE DAMAGE.