CBO is expecting higher UE numbers and a slow down in the economy

[Remodeling Maidiac]

Who’s up for another trillion-dollar deficit? « Hot Air

The CBO said that allowing the George W. Bush tax cuts to expire on schedule in January and making deep cuts to the Pentagon and other agency budgets would shrink future deficits and begin to tame the national debt.

Still, the nation would pay an economic price for such austerity measures, the CBO said. Raising taxes and cutting government spending would slow economic growth and increase unemployment. The CBO projected that the jobless rate would hit 8.9 percent by the end of this year and rise to 9.2 percent by the end of 2013.




As if there is any room for growth to slow.

Sigh......

 

[Baruch Menachem]

Help wanteds are shrinking anyway

 

[Remodeling Maidiac]

If this report is accurate those of us in the housing industry are in for some rocky times. I was just starting to see signs of growth too. This makes me nervous.

 

[NYcarbineer]

Then the GOP should stop with the nonsense that cutting the budget will create jobs.

 

[Soggy in NOLA]

Then the GOP should stop with the nonsense that cutting the budget will create jobs.

Oh yes, profligate deficit spending definitely creates jobs... or, are you suggesting that Obama cut the budget?

 

[bripat9643]

So long Democrats!

Who’s up for another trillion-dollar deficit? « Hot Air

The CBO said that allowing the George W. Bush tax cuts to expire on schedule in January and making deep cuts to the Pentagon and other agency budgets would shrink future deficits and begin to tame the national debt.

Still, the nation would pay an economic price for such austerity measures, the CBO said. Raising taxes and cutting government spending would slow economic growth and increase unemployment. The CBO projected that the jobless rate would hit 8.9 percent by the end of this year and rise to 9.2 percent by the end of 2013.




As if there is any room for growth to slow.

Sigh......

 

[Truthseeker420]

Who’s up for another trillion-dollar deficit? « Hot Air

The CBO said that allowing the George W. Bush tax cuts to expire on schedule in January and making deep cuts to the Pentagon and other agency budgets would shrink future deficits and begin to tame the national debt.

Still, the nation would pay an economic price for such austerity measures, the CBO said. Raising taxes and cutting government spending would slow economic growth and increase unemployment. The CBO projected that the jobless rate would hit 8.9 percent by the end of this year and rise to 9.2 percent by the end of 2013.




As if there is any room for growth to slow.

Sigh......

And CBO says unemployment falls sharply after 2013 to under 6%. IMO Bush tax cuts should expire, maybe prolong the payroll tax cuts for two more years.

 

[NYcarbineer]

Then the GOP should stop with the nonsense that cutting the budget will create jobs.

Oh yes, profligate deficit spending definitely creates jobs... or, are you suggesting that Obama cut the budget?

It does. How many defense industry jobs have been created over the past 30 years on borrowed money?

 

[BlindBoo]

Congressional Budget Office - The Budget and Economic Outlook: Fiscal Years 2012 to 2022

http://www.cbo.gov/ftpdocs/126xx/doc12699/01-31-2012_Outlook.pdf

 

[NYcarbineer]

Romney is going to be running on a tax plan that blows a huge hole in the deficit, while cutting his own taxes.

Obama is going to be running on a much more fiscally responsible tax plan, that includes raising his own taxes.

How do you suppose that will play?