GOP spending plan would cost 700,000 jobs, new report says

**ItsRobsLife** · 01-03-2011, 05:57 PM

A Republican plan to sharply cut federal spending this year would destroy 700,000 jobs through 2012, according to an independent economic analysis set for release Monday.

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.

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**S Landreth** · 15-04-2011, 05:12 AM

Good one,............

don't play with the sound, there is no sound in the video

YouTube - Speechless

where are those jobs?

**Boon Mee** · 15-04-2011, 06:36 AM

Well, this is unsurprising:AP poll shows 6 in 10 Americans want spending cuts, not tax hikes.

**sabang** · 16-04-2011, 02:07 AM

Paul Ryan, the chairman of the House Budget Committee, sounds upset. And you can see why: President Obama, to the great relief of progressives, has called his bluff.

... people who actually understand budget numbers went to work, and it became clear that the proposal wasn’t serious at all. In fact, it was a sick joke. The only real things in it were savage cuts in aid to the needy and the uninsured, huge tax cuts for corporations and the rich, and Medicare privatization. All the alleged cost savings were pure fantasy.

... And then Mr. Obama laid out a budget plan that really is serious.

.. And the hissy fit — I mean, criticism — the Obama plan provoked from Mr. Ryan was deeply revealing, as the man who proposes using budget deficits as an excuse to cut taxes on the rich accused the president of being “partisan.” Mr. Ryan also accused the president of being “dramatically inaccurate” — this from someone whose plan included a $200 billion error in its calculation of interest costs and appears to have made an even bigger error on Medicaid costs. He didn’t say what the inaccuracies were.

http://www.nytimes.com/2011/04/15/op...ml?ref=opinion

No wonder Paul Ryan and several other choice Republicans threw a hissy fit.
They've made themselves look like fools, they can't even get their numbers remotely right. And the chutzpah of demanding still more tax cuts on the rich & corporations after the financial disaster of the last decade leaves me wondering if these folk inhabit a parallel universe.

**S Landreth** · 16-04-2011, 06:47 AM

Originally Posted by sabang

the hissy fit

They've made themselves look like fools, they can't even get their numbers remotely right. And the chutzpah of demanding still more tax cuts on the rich & corporations after the financial disaster of the last decade leaves me wondering if these folk inhabit a parallel universe.

A death knell for the republicans in 2012

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