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Subscribe to RSSA report by economist Mark Zandi from Moody’s says that Republicans’ plan to cut spending would cost 700,000 jobs through 2012, the Washington Post reports.
Republicans, however, are pushing back, trying to discredit Zandi (who was an economic adviser to John McCain's campaign), calling him the "chief architect" of the stimulus.
"When considering the latest study from Mark Zandi on the GOP’s efforts to rein in government spending, let’s not forget that he was the chief architect of the Democrats’ failed stimulus plan," wrote Brian Patrick, a spokesman for Majority Leader Eric Cantor. "Even as unemployment climbed into the double digits, Mr. Zandi continued to defend this failed policy. It shouldn’t come as a surprise that he would come out against the GOP’s common-sense efforts to put an end to more stimulus-style spending."
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Typical political BS from the GOP which started the stimulus! Fact is cuts must be made and as a result jobs will be lost. The question is whether or not the GOP is "man" enough to step up and admit it rather than resort to the same old spin of "it's not us, it's them ... it's all their fault".
Wow! I don't even know how to respond to such a high ignorance level as Steve-505729's. Steve, I have a feeling you must have eaten a substantial amount of lead paint chips as a child...very sad. It is even more sad, if not scary, that people like Steve are allowed to vote. *ugh*
If the government tries to protect us from lead paint chips and force paint makers to create safe paint, that socialism, isn't it?
So, the fact that he ate lead paint chips makes him a "patriot" doesn't it?
Typical, 2redintx has absolutely NOTHING to add.
Government cannot be the major employer. It doesn't work.
Why can't you liberals figure this out????
Steve, you are correct that Government cannot be the major employer. But reality is that our whole economy has become dependent upon Government spending. When the Government buys a military vehicle the majority of the cost of that vehicle goes into the pockets of people who build the vehicle. Those workers then use that money to buy food and goods from local businesses. Those businesse then use that income to but the goods that they sell - and so on. So the dollars that the Government spends to buy goods and services goes a long way toward making our economy work. I certainly agree that Government is top-heavy, but where will those Government employees work if their jobs are eliminated. All of these folks - both Government employees and those who work directly and indirectly because of Government contracts all pay taxes. It is the giveaway programs to non-workers (read that as welfare) that does nothing to help the economy. Cut those programs and put the money into projects that result in jobs and make the welfare recipients go to work or starve.
Government can't be the major employer? Then we're hosed because our standard of living is not competitive in a "global economy".
Landscaping and nail salons are already taken. There are still a few jobs left for Americans, but I don't know what we'll do once everyone has their address freshly painted on their curb.
RadarBob,
Welfare was reformed in the 90s. Welfare was not even mentioned on the 2008 Republican party platform. Welfare doesn't make a dent in the deficit.
Try to find a problem that actually exists, like people burning American flags, oh wait, I mean male florists who want to get married.
Edwardo get a clue! The rich are doing quite nicely and buying up your foreclosed home for pennys on the dollar.
What "Fragile Economic Recovery" are some of you posting about?
Its the GOP way...get rid of middle class.
What many folks do not seem to realize is that when the budget of organizations like the Defense Department, NASA, Transportation and others is cut what is eliminated are cotracts to government contractors. That translates to lost jobs. The profit to the contractor firms will average less than 5% of the contract value. The rest goes to employees in salary, benefits and employment taxes and to subcontractors. So the majority of cuts to organizations except for Health and Human Services comes directly and indirectly from the pockets of working americans across the country. The fallout of the proposed GOP cuts doesn't stop with only 700,000 jobs lost it cascades into the millions of jobs lost. As a lifelong Republican voter, I am ashamed of the bject stupidity of our current congress. You had a chance to change things for the better. Shame on you for losing that chance. I am now an independent! Down with both parties. Neither deserves our trust.
Superlogi: That is exactly the point that folks are missing. Big Brother is broke. Things have to be cut even if they are needed.
"Things have to be cut even if they are needed."
The problem is defining what is "needed" and exactly WHO "needs" it, isn't it? Are sugar subsidies "needed"?
I say not a day too soon. During an economic downturn when over 4 million jobs were lost in two years, and companies have been cutting "non-essential personnel", why did we add half a million government jobs? They weren't needed before the recession, and they sure hell aren't needed now, just a front for more welfare.
Why shouldn't the rich get richer? If we permit them the opportunity to enrich themselves via the tax structure, they will in turn hire the rest of us. The rest of us are of course the serf or peon class. We are the lesser endowed members of the species whose function is to till the soil of the aristocracy. We should get in line and know our place. If we are good and moral and support the wealthy to create jobs, we too may some day be all powerful and wealthy. That is the American dream. Democrats want to ruin that dream which will eliminate the incentive for we serfs to strive to be among the blue bloods.
The bottom line is support for the wealthy will keep us fit and motivated to be rich too. Help for the weak only rewards weakness.
Jeez Louise how stupid can you be? They aren't going to hire YOU. They're going to hire someone in India.
WOW, do you really belive that stuff. Read some books, not one economist has presented FACTS that show supply side/trickle down theory actually works. Sounds great on paper, but IT DOES NOT WORK in this country. Too big, too diverse, and way too greedy! Keep drinking the cool aid and listening to G Beck, at least that fat $ss will keep his job and 50 million a year salary. You think any of his money is trickling down to you, Ha........think again!
Why shouldn't the rich get richer? If we permit them the opportunity to enrich themselves via the tax structure, they will in turn hire the rest of us. The rest of us are of course the serf or peon class. We are the lesser endowed members of the species whose function is to till the soil of the aristocracy. We should get in line and know our place. If we are good and moral and support the wealthy to create jobs, we too may some day be all powerful and wealthy. That is the American dream. Democrats want to ruin that dream which will eliminate the incentive for we serfs to strive to be among the blue bloods.
The bottom line is support for the wealthy will keep us fit and motivated to be rich too. Help for the weak only rewards weakness.
You know that the analysis is correct when GOP talking heads attack the messenger and not the message.
Where was all this so-called "fiscal responsibility" when Republicans controlled Congress during the Bush Administration years?
Bush had a job approval rating of 22% and the Repubs lost Congress in 2004. Maybe their lack of fiscal responsibility had something to do with it? Or maybe you just weren't paying attention.
Democrats took control in 2006, so evidently You weren't paying attention. Check your facts before you try to sound like a know it all.
2004, 2006, you get the idea. The Repubs didn't do their job of holding back spending and got hammered, just as the Dems did last November after adding $3.4 trillion to the debt in two years.
Yep, Bait & switch, that's politics for ya
"Bush had a job approval rating of 22% and the Repubs lost Congress in 2004."
You voted for him twice, didn't you jobseeker? And then you voted for McCain/Palin too didnt' you?
Doesn't everyone remember what the last election was all about? Jobs, jobs, jobs. The only thing the repugs forgot to tell their idiot minions that voted for them, they meant getting rid of jobs, jobs, jobs.
You mean the 700,000 that we are paying for with our tax money? The GOVT workers Obama hired? I can live with that. It will not be 700,000 of course but if it is then it just goes to show you what an ass Obama was to take our tax dollars and waste it on 700,000 govt workers instead of investing it in the private sector to create jobs that actually generate taxes instead of eating taxes.
boy, you are so off in left field...do you know how much economic activity or multiplier affect is created by a middle class job??? I bet you don't do you.
So you believe the GOP has credibility???
TBT. One minor correction. Wade is in the far right field.
the GOP hasn't had credibility since Pres. Eisenhower
yeah! Let's get rid of 700,000 government workers so they'll stop buying stuff. The supply siders tell us we have a "consumption based", "service" economy now. So, the best that could happen to a "consumption" economy is to have 700,000 fewer workers "consuming" less. That will make America great again. Just imagine how great things would be if we had let the auto makers fail too. We could have gotten rid of millions of overpaid, union, autoworkers. Think how much better things would be if all those lazy, union, socialists were not "consuming" all that stuff.
Tea Party Utopia: Everyone is poor except me.
Its a smoke screen people. they cut the taxes, then cut jobs to make up for the short fall from cutting the taxes...typical voodoo economics...
If we are all going to share the pain. Why are conservative resisting tax increases on the richest 2%? Should they not share the pain?
It was Obama who extended the Bush tax cuts, after promising to roll them back for three years, saying they were "essential for economic recovery". Maybe you should talk to your man.
Yeah - Sorry to say I voted for Obama because we need action to get the taxes back on the richest, as well as get rid of some of the gravy people get back without paying anything. If he doesn't start saying "yes we can" I won't make the same mistake twice.
Job. Try to get your facts straight. He did not say giving a tax break to the richest 2% was essential. He said the break for the middle class was. The republicans blackmailed him into extending the tax breaks for the Koch brothers and their other billionaire buddies.
They tried to only keep the tax cuts for non-millionaires, but the Republicans threw a hissy fit and held their breath, and stomped their feet, because it wasn't fair to the poor little millionaires.
The article indicated that the economist was an economic advisor to John McCain. How did they flip the script to Democrats? As an independent, the last thing we need in increasing the jobless rolls during this fragile recovery period. All I hear is Democrats and Republicans blaming each other. What about the American people? Don't we deserve better than what we're getting from both sides?
If I were the governor of Wisconsin, I would just tell the protesters I will drop the bill and the pink slips go out tomorrow to make up the budget shortfalls. Keep in mind this about the jobs we are talking about. They are taxpayer funded jobs. No one seems to care how much we pay in taxes until the wealth envy card is played. I would also suggest many here read up on the data, real data, collected since the 30s that says federal income tax collections are about 19% of GDP no matter the tax rate. So even if Obama raises taxes on the wealthy, it will not mean more federal income because the increase will mean a slower GDP growth from less investment. Maybe if the government stopped spending over 19% of GDP then everything would be fine.
But if he did that it would become obvious that he had no real plan to grow jobs. He's the hired lackey of the Koch Brothers. He's working for big business not for the people of his state.
I couldn't agree more. Either accept the cuts or lose the jobs. You cannot keep both, there is no money left to pay.
Towne - exactly. It scares all of us but in the end I need my job and benefits, if I take a pay cut-so be it. I haven't had a cost of living increase in two years, my insurance went up and so my net income went down. BUT I have a job, and I am hanging on for dear life. I think everyone except Wall Street is in this way.
truly, y is that? why is it steady at 19% of GDP? just don't put out snippets of information like both political parties. gov has increased each time the GOP is in office, so of course the revenue that is bought is spent by the GOP, military industrial complex, big oil, and big pharma
The competing, Republican "jobs" plan is to continue to grow jobs in China and India. That creates higher value jobs right here in good old America! Didn't you know that? Good jobs too, like CEO, COO, CFO, CIO, and nanny.
if ppl haven't noticed what is going on here and come out and rebut this failed economic policy of the GOP in 2012, we are in dire trouble.
Let's get some facts. The stimulus bill Created or SAVED (every economist will say there is NO WAY saved jobs can be verified) 3,000,000 jobs of which almost 500,000 were for the expansion of government. That is $266,000 per job. It will take approximately 40 years for a return on that investment. However we lost 7,000,000 so net we are down 4,000,000. So the stimulus plan really lost 4,000,000 jobs. The Republican plan if Zandi is right would only lose 700,000 and save the taxpayer $60 billion at approximately $85,000 per job. We should cut things like NPR, ACORN (which we have done), National Endowment for the arts, second home deductions on interest and any of those deductions that only apply to very few as payoffs to politicians. By the way, my tax dollars pay teacher salaries and they pay union dues which go to support politicians. If unions support candidates then those politicians should never be able to negotiate contracts. This is a conflict of interest like no other in our nation.
Also, when I went to grade schol we had classes larger than 50 students per class. Now the classes are less than 30 and scores have just marginnally improved in over 40 years. The teachers are afraid that they may have to work for a living. I am sick and tired of unions BREAKING THE BACKS OF MIDDLE CLASS FAMILIES.
so, allow the top 2% tax advantages and screw the rest of us right? the accounting is not on your side my friend. Voodoo economics have re-distributed the wealth to the top 2% while the rest of the country has crumbled. When the GOP is in control, gov and deficits has increased. Can you say, fleecing of America? The TARP was the biggest bank heist in American history. Where you on the front lines demanding some charges be bought up against Paulsen and Bush?
Richn, Click the link...
http://money.cnn.com/2011/02/16/news/economy/middle_class/
Private, public and union workers are all on the blue line...going no where.
Red line shows a hundred years of gains due to redistribution of wealth.
Take a step back and ask why the middle class is broke? It's quite obvious.
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The only reason the GOP and Tea want to cut spending is to spend money on another war. Period. There is no interest anymore in creating new technologies or helping our own people. It's very sad.
End the tax breaks. Raise taxes on the top 2% and you can raise MINE too. I'm willing to do it for America! With a little sacrifice, we can lower the deficit!
Come on Tea Partiers! Who's with me?!!
Yeah, I didn't think so.
700,000 jobs of wasted taxpayer money
LOL you don't even know what the jobs are yet. You couldn't make it more obvious that your argument is based on bravado, anger and nothing more. At least wait until you know what the jobs are until you say they're worthless.
Another empty headed "Conservative" loud mouth trying to look good by trashing the left. You gotta at least have some facts to criticize before you can look smart hurling politican rhetoric, cliff.
do the math. Reducing $61 Billion causes a loss of 700,000 jobs than the $1 trillion spent on the stimulas 2 years ago must have created 11 million jobs. things are not adding upcorrectly
Great logic !!!
If those jobs would really be cut, then they were "false jobs" that existed only by thge protection of the tax payer. We need real jobs that stand on their own. That requires that we become competitive with our products, which includes holding the line on costs (including wages). This is all a simple math problem folks. False jobs will get us in trouble.