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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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@!$%# you eric cantor! @!$%#ing liar!
I told my wife. We can't buy that purse and shoes because we don't have the money and our credit card is maxed. But she said if we don't buy them, Younkers will have to lay-off the sales clerks. Hmmmm what to do..... I geuss we just need to raid the grandkid's piggy bank!
UAW PLeeeeeeeease....funny. You explained it in simple logic. Hard for some to understand, but you nailed it!
did I miss something? did the article not state that he worked for John McCain and they are lumping him in with the democrats.
No intexas....It said he was the chief architect of that "wonderful" stimulus plan that put billions in the pockets of the teachers unions, public utility unions, and anybody that supported Democrats.
You know, the "stimulus" that kept unemployment UNDER 8% and has created just millions upon millions of jobs according Obama and Democrats.
Just because he worked for McCain at one time does NOT mean that he's anything other than just another dummie that uses old-style, mostly discredited, Keynesian models for economics. But since he was willing to write a package that allowed Democrats to throw over 800 Billion dollars around and do nothing except cause inflation, Democrats think he just walks on water.
Especially when he can quite literally make up numbers like "700,000 jobs will be lost" based on the color of snow apparently, because he has absolutely NOTHING else to work with.
Cheryl, I'm certain that half of all government spending is wasted, but no one seems to be able to get support for exactly which half is wasted. For example, you believe the stimulus money was wasted. Perhaps a lot - maybe even half - of it was. In my community stimulus dollars paid for all of our city's needed improvements to our water, storm water and sanitary sewer systems. The stimulus funds were for 'shovel ready' projects which ours were. Those improvements have now been made. The work involved over two hundred individuals working for three separate private sector contractors over an 18-month period. Last week, a manufacturer announced that they will be building a new facility in our community which will employ 75 people. The firm's decision was made in large part due to the improved infrastructure the stimulus financed. I would argue that this expenditure was not a part of the 'wasted' half.
Borrow money create jobs, borrow money create jobs, borrow money create jobs. OBAMA-OBAMA-OBAMA!! Wheeeeeeeee! :)~
Moody,.....................the rating company that helped screw everything up with it's high ratings of terrible housing morg. packages has no room to talk.
borrow money create jobs? how about lie and write blank checks...mmmmm iraq.....where are the wmd's? Gas prices are up and we didn't even get oil? Are you kidding? Don't play coy. Talk to Mr. Cheney.
The Republican mantra is that government, at all levels, is evil. Rather than work to improve the effectiveness and the efficiency of government, they prefer to dismantle it. This approach is called "Starve the Beast" and has been a major tenet of the conservative movement for decades. Step One is bust unions. Step Two is dismantle social programs. Step Three is fully implement the 'what's good for business is good for government' philosophy. Let's move along, there's nothing new here.
Actually they do support a government-- a government run by big business.
Bruce, I think you hit the nail on the head. I rarley agree with a Democrat but if you are one I like your ideas!
Alot of people fail to see that both political parties are guilty of destroying America from the inside out. Until all the people come to agreement on how to fix and maintain the political parties we are all screwed!!! We need to work as one without personal political gain, only then will true hope and change take place.. Where is the common sense in the gov.?
msk, you couldn't get 'all the people come to agreement' on what time it is!
Common sense is an oxymoron - your common agreement or mine may or may not be shared by anyone other than ourselves. We are all captives of our own view of the world and wonder why others have a different view. Nothing will change until Republicans and Democrats get over the 'my way or the highway' syndrome.
The GOP wants unemployment to go up. They think it will translate into wins for the Senate and the White House. These budget cuts don't hurt the top 2%, the only ones who matter. And there are enough gullible people out there to vote for them. These cuts are very thought out and targeted.
There is a costs benefit to every decision. It is important to not only look at the costs but also the benefit of the cuts. And I am sure the majority of those cuts pertain to government employees, and these individuals could and would theoretically be rehired in the public sector.
The deficit is a huge problem and until Democrats and Republicans alike quit cantering to special interests and their states at the costs of the federal government we will continue our downward spiral of passing our problems to the next generation.
I give two middle fingers to this nation we call America. Bunch of Greedy Dumb A$$es if you ask me. 700,000 more people collecting unemployement will solve the problem. Genius!
The Republican plan to cut spending would cost 700,000 jobs. (at least)
But DON'T RAISE TAXES ON THE RICH!!! (because that would, um, kill jobs...)
Hypocrites.
Cut members of congress pay in half. Have them pay for their own retirement and healthcare that taxpayers are funding. Keep 5 employees on the payroll for every cut to that excessive perk package. Start cutting today with their pay and excessive perk package for life. They'll all have a good corporate job when they leave congress, we don't need to be funding these socialist benefits.
The American people have been led to believe that reducing the debt in the short term will create jobs, but just the opposite is true. It's just like when they were told that cutting taxes increases government revenue. Unfortunately it don't work that way.
This report from Zandi is important, and yet it really has been drowned out by the right wing spin. Why can't the Democrats get their talking points out there? I think, properly informed, that most Americans would choose to deficit spend if it meant that we have a chance for lower unemployment. I haven't seen any polling pose this question: "Would you rather cut spending and increase unemployment, or maintain current spending levels and maintain current employment levels." And yes, cutting spending and increasing unemployment _is— an option, just not one that I think people would like after the fact.
Given the current budget proposals, I think the GOP is trying to scuttle the ship.
Republicans and other conservatives have never given a damn about the ordinary American worker.
Nonsense!
Moody’s says ................ Isn't Moody for all the erroneous investment ratings that helped create the collapse of the housing market in the first place. They provided high ratings on investment packages (Morg. bundles) that proved to be poor investments. So we should trust them now?
Let's see now...the title of this article implies that the GOP proposals will "cut 600,000 jobs". The article is by a Dumbocrat Left-Wing shill operation. So, I should believe them why???
Why is it you either like this idea and back it or you hate this idea and complain but have no idea what to do instead! No matter which side you sit on the only way to reduce the debt is to cut expense. I own 2 small business in Iowa and if I ran them like our gov't I would have lasted 1 year. This was caused by both sides that goes without question however, we are creating a country of lazy and what have you done for me lately people. There are jobs out their if you want to work. You may not like it but its still a job and if it cut the amount of aid the person needs to suvive I'm fine with that!
If you want to complain about then be part of the solution and show ideas that would work better! But until you cut spending nothing will happen!!!
Does that mean they will cut 700,000 government jobs? Lets see the IRS just put on nearly 20,000 to monitor Healthcare, EPA hired another 10,000 the last two years, the Department of Energy has over 30,000 employees and Obama gave his staff a 32% pay raise before the Federal salary freeze. I bet if they chopped about 10% of the workers from each major government department, reduced SS and entitlement programs by 5%, increased the retirement age to 68 and reduced Senate and represetitve salaries by 8% we could get the budget back on track.
Republican party puts this country in a deficit, after depleting all gains made from the previous administration.
Ships millions of good paying middle class jobs overseas.
Makes sure those banks, and insurance companies who are too big to fail get their millions in bailout from the working class people.
Who in turn do not go out of their way with any sense of urgency, to re-invest in this country by loaning money to the working class or mom, and pop businesses.
Overseas business definitely YES for loans, but not in the very country they claim as their own.
But get their millions in bonuses, claiming how valuable a talent they are.
While teachers, public employees are left as irrelevant in how valuable they are.
Republican Tea par-tiers attacking unions as the root of all evil, for why this country is in this state.
Yet not one apology, or crisis of conscience for getting U.S. in this mess. But making it worse each year.
Mr. Boehner,................. where are the huge tax (10 years worth) breaks jobs by the wealthiest in this country you and your fellow Republicans said would come ??? When was that going to happen again !?!?!
Can it really be said the stimulus plan failed if the economy's recovering back to pre-recession levels?
Welcome to dumb FUX NEWS nation!!!
Increasing share of total income and wealth is going to the richest 1% while jobs and wages of everyone else languish.
Now the Bush tax cuts for the rich continue, estate taxes have been reduced and the wealthy are shifting ever more of their income into capitol gains which is taxed at 15%.
Now they want to destroy what's left of unions. In 1960 about 1 in 4 workers belonged to a union, now it's 1 in 10.
The average public employee makes $45,000 per year and receives a pension of around $19,000 per year.
Yet the GOP continues to lie about the source of our problems, they want you to believe it's the people at the bottom, unions, illegals and welfare recipiants.
Nothing could be further from the truth, we now are living in the only country that has socialism for the rich...
Yes, We need real jobs. Problem is that business hasn't stepped up to the plate and provided the jobs we need. The banks after the bailout didn't start loaning small businesses money. Why, they were too small to save. Why save the middleclass' bread and butter when they can make the government supply corporations tax breaks for outsourcing with our own government handing out H-1b visas 1-L visas? . Why save middleclass when you can put them on public assistance and wreck the economy so that wannabe Republicanism sweeps the whole mess under the rug by blaming the democrates for spending too much. Yes, they are spending too much, but until the private sector actually responds responsibly and the government makes them accountable nothing will change as the banks and corporations pretty much run the show. At least the government started making small business loans.
hawk- the history of the Great Depression proves you wrong. Know anything about President Hoover?
As the Speaker Boehner said the people have told him what they want and that's why Republicans/Tea Party were voted in as majority to do the people's work. The American people voted on election day to do exactly what is happening now. The mission has always been clear and that is make sure Obama and the USA fail. With the direction of the Koch bros. and Banks/Corporations things are going as planned. The American people got exactly what they voted for. We will see the GOP make sure more Americans lose their jobs and blame Obama. No Obama who's working alone to create jobs isn't given credit but attacked by the same American people.
jackie, so you would call the past two years under Obama, and the past four years under Democrats as a "success"?
The stupidity of statements like yours is EXACTLY why you lost last November, and why if you keep the lies up, you'll lose in 2012.
You don't have any facts, you don't have anything that proves a single claim you've made.
All you have is "make sure Obama and the USA fail".
And "Obama who's working alone to create jobs" (I guess that means he's out there recruiting for companies, writing people's resume's, and filling out applications between vacations)
Wow!! The intellect of statements like that is just incomprehensible.
Says the Queen of no facts Cheryl. kind of the pot calling the kettle black huh Cheryl?
Want to fix the budget and get the country on track? 1. Send illegals back to Mexico and no more entitlements to anyone left here illegally. 2. You must take a drug test before recieving any type of welfare. 3. You have 6 months from now to get a job. Should you not have a job, fine, no more welfare. Bingo, we will have a surpluss before next year starts.
Since when do we have to coddle and throw money at people from the time they are born till they die? Enough is enough... get out and work, or starve.
Please, the next person who starts to say all we have to do is get rid of "welfare", please do some research.
The reds told us all we had to do was get rid of "welfare" and cut "fraud" and "waste" and we could easily get rid of the debt. Now, it seems they had an ulterior motive. Defeat the middle class once and for all. They were mortally wounded during Bush's "outsourcing is good", "jobless recovery"and now we can finish them off.
No one listening libbies, we assume that everything you say, is a lie.
Why wouldn't we, todate, everything you have said is a lie.
We will make the cuts or the republican legislators will be gone in the primaries next year.
You libbies still think this is just another election reverse, you will keep what you have and start building on it, when the libbies come back..
Not this time libbies, look for , "return to work classes", or you are going to be hungry.
Omama lured you out of the closet, all of the way out, you showed us everything, we didn't like it, now you pay.
a lie?
You mean like:
"We know where they are. They're in the area around Tikrit and Baghdad and east, west, south and north somewhat."
Oh oh Oh and let's not forget all these little gems.
Cheney 5/2005 They're in the last throes, if you will, of the insurgency."
Cheney, 6/2004.
"Two days ahead of schedule, the world witnessed the arrival of a free and sovereign Iraq"
Rumsfeld, 7/2003.
"I don't do quagmires."
Bush, 5/2005.
"Good news to the men and women who fought ... their mission is complete."
Wolfowitz, 3/2003.
Iraq: "can really finance its own reconstruction."
Cheney, 3/2003.
"I think it'll go relatively quickly, …Weeks rather than months."
Adelman, 2/2002.
"Liberating Iraq would be a cakewalk."