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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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What does the GOP care about jobs? The worse the jobs report now, the worse it reflects on the president, not them. Think they won't bring up unemployment numbers, regardless of how many lost jobs they add to them. Which just goes to show you how much they really care about employment, as opposed to winning political office. 700,000? Hey, if it gets them votes, small price to pay, in their way of thinking. Also, I really like the wingers that slam union jobs and want to get rid of them, but would defend spending billions in tax payer money on military contracts for unwanted and unneeded weapons systems, on the ground that it employs people. I'm guessing if this guy "pencil whipped" those numbers to favor the GOP, the baggers would defend him tooth and nail. Typical.
What a moronic view of economics! Yea, the GOP does not care about jobs, or old people, or balanced budgets-only you ENLIGTENED Democrats really care about the country and its people! Please tell me that idiots like you do not vote and hopefully do not add to the gene pool!
Franklin
Instead of making mindless snarky remarks how about addressing the problem at hand. The lost of those jobs, even if they are government jobs, that generate huge revenues that go directly to your beloved PRIVATE SECTOR is good for the country. Also, how about addressing the impact 700,000 more people added to the states unemployment roles will add to individual state budgets. You folks need to start looking at the ramifications of your actions. It's time to stop this "ready, fire , aim" thingy you all seem to like so much.
I'm beginning to believe the mission of the GOP tea party people, is to destroy America from within. Get rid of the middle class, have the kings and queens sitting in the castle's, while their minions sit at the gates begging his highness for a break of bread.
If these 700k people are government workers, will the tea party people be willing to pay them unemployment benefits? Remember now, at the end of 2010, the GOP threatened to stop unemployment payments to people at the worst time of the year, celebrations of Thanksgiving, and Christmas. Is the GOP heartless? YES they are!!
I am so glad no one is jumping to a conclusion before checking the facts of one story by one economist in one news paper we all know to be very - uh - cough - un - un - biased.
It isn't to destroy "America", they need the slave labor. It is to destroy the government so the corporations and the oligarchy of the rich can rule with impunity.
Don't get out much do ya Weldon? It's not just ONE report, but then again I guess you'd actually have to want that information to have it huh?
So much for the Koch-sucking Teabags wanting to put America back to work.
Friday, February 25, 2011 ... denounces Obama's budget proposal ... that will immediately cost jobs and threaten our recovery." La Crosse Democrat Ron Kind called the budget ...
www.jsonline.com/news/statepolitics/116208139.html
Then you go to the other side and they yell jobs. Bottom LINE CUTS HAVE TO BE DONE. Stop the BS and cut. Hillary just promised Egypt another 150 million dollars. Speed rails to no where. Stop the cr** and start cutting.
Aren't they cutting? Middle class jobs that is...
Pray tell, What Budget?
Love how the stimulus plan is Democrat only issue. Seems to me it was a Republican administration that presented it to congress. My bad, it was a Democratic congress that worked with a Republican administration to push it through, 4 months before Obama was sworn in. Damn, FACTS SUCK!
Yep and it wasn't until Obama came in and made these recipiants accountable for the stimulus $ they received. The administration before them, just gave away free money.
Mr. RWMartin
My demo friends were only happy to accept the responsibility when a story said the stimulus was working.
Bush provided the Money in hand to Obama to spend as he felt the need. As he should have done because he would not be in office to direct or over see the spending.
Don't bother me with facts it takes too much time to verify.
When did the budget start getting so messed up? Oh, I remember ...
it would be nice if that 700,000 jobs were cut for the overseas operations and brought back here....but yep....Republicans are all for Outsourcing and making the rich richer!! nothing we can do, except watch our american dreams go away...thank you drippy Tea Bags and GOP!! I just wish it was 700,000 Republicans out of work!!
Who are the richest politicians (who by the way own big business) sitting in congress?
Hey idiot-the Dems are the ones who have created 130 trillion dollars in unfunded liabilities in the form of entitlement programs-even though we only take in 3 trillion in annual revenues. They traded "free stuff" to unsuccessful losers like you in order to garner votes and stay in power-now the bill for their deficit spending and unrealistic budgets is coming home to roost. The Dems are responsible for all the problems with underfunded public pensions and the creation of the welfare state-not Republicans. And just so you know-there are more rich Democrats than Republicans and they receive more money from Wall Street each election cycle than Republicans-why do you think Goldman Saks has had so many Treasury Secretaries in Democratic administrations/ Wake up and educate yourself instead of drinking the Liberal Kool Aid and Animal farm Logic of; (Dems Good-Repubs Bad!!)
Last night at the Academy Awards the movie Inside Job won best documentary. It's all about the collapse of our financial system. Check it out Franklin.
This is a big part of the problem isn't it?. So many jobs in the country are generated by Government spending, what can you expect? I doubt all 700,000 jobs (or whatever the number is) or even a significant percentage would be union jobs as some seem to think but who really knows among all of us that are commenting? I guess if as long as it's not impacting unnecessary non-union jobs it's ok for some. Unfortuanately both union and non-union employees have kids to feed and morgages to pay.
I guess Cantor forgot that the stimulus was half tax cuts. So by his logic the tax cuts are also a failure.
It's the GOP tactic of "truth by repetition." Even though most economists agree the stimulus was successful in preventing an even worse depression, if they call it the "failed stimulus" every time they mention it, they hope the viewers will believe it failed. It's true, you always hear them say it that way.
I believe Dubya referred to that as "catapulting the propaganda".
"See, in my line of work you got to keep repeating things over and over and over again for the truth to sink in, to kind of catapult the propaganda." -- G.W. Bush
Then, there's this one...
“If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State.”
At the risk of invoking Godwin's law, that was Joseph Goebbels.
Big surprise. You weren't around for the 2000's?
This is no different then when Obama claimed if we spent 800 billion dollars that unemployment would not go above 8%. Seems his economist was very wrong. Bottomline is that we have a 14 trillion dollar debt and a 14 trillion dollar GDP. You don't need to be an economist to see there is a serious problem. Obama proposes a deficit for 2012 of 1.1 trillion dollars and the budget has very rosy assumptions provided by economists. Chances are the deficit will be greater if this budget stands. These guys are very poor predictors of the future. We need spending cuts. We need a balanced budget admendment. We need tax increases and a law that makes it mandatory that any tax increase must go to paying down the debt. If congress raises taxes without this law, they will find a way to spend it.
We should start by cutting your job!
I am quite sure you are one of the 46% of the folks who pay zero federal income tax and actually receive a tax credit. You know free loaders. You need me to work I pay your way.
Actually, Tony C-2383666 I'm one of those who make six plus figures a year. As for the 46% number, I'm sure in your mind they are all people of color, immigrants, illegals, liberals, gays, homosexuals, and any other name brand you ideological GOP/TP people want to blame these days.
Reality is there will never be balanced budget amendment to the constitution because of the number of states it takes to ratify any constitutional amendment. So let's deal with reality, not fantasy. You think that the loss of 700k jobs won't affect your take home pay, the services you receive, your quality of life? Do you believe that our economy is strong enough to absorb that many job losses? You really believe that taking that much money out of the economy (lost tax revenue) will be a benefit to city, county and state governments?
If your answer to any of the above questions is yes, then I have to believe you are one of two things:
1. One of those extremely wealthy individuals who does not need to worry about retirement, health care, college education for your children, or simply having enough money coming in to meet your basic necessities, OR
2. You are retired, collect social security, medicare and medicaid, and sit in front of the TV or computer all day listing to right wing media rant about socialism, Obamacare, liberals, illegal immigrants, minorities, unions, and how tax breaks create jobs.
Either way, your ideas fit nicely into the Alice in Wonderland story.
Brilliant SayitaintSo. I don't know if our economy can survive a hit like this so soon after all that we've been through and things are starting to look up.
This should be a HUGE worry for all of us.
You got it right. The left and even the right don't seem to understand the simple truth. If you haven't got the money you can buy the product. In this case the product is votes. Most public employees of every kind want more but don't want to share in the cost. Democrats realize they have to buy their votes and do it with our money. Let's stop it now.
So Lord Richard, interesting name by the way. Are you a really a lord or just in your mind.? Anyway, let's say that all 700,000 jobs are public jobs. Have you considered exactly WHAT that might mean? What jobs you think will be cut? 700,000 filing clerks? Didn't think it that far through eh?
I just hope that this continued expose of the GOP for what they really and what they REALLY did continues for a VERY long time! They are VERY close to achieving their goals of eliminating unions and privatizing all the social entitlement programs! This started under Reagan, with huge deficits and balooning debt using tax cuts and over spending! ( AKA Starve the beast") Dont ever forget that the last 3 GOP presidents signed TWENTY budgets that were riddled with deficits that led to a debt of $11T. THEN they crashed the economy!!! What is truly scarey is that so many Americans support them in thier endeavor without even realizing they we're about to be massively SCREWED!! Of course, most of THAT can be ascribed to the incredibly well financed propaganda oozing daily from Fox New and their ilk!!
Finally, the media begins to show some cojones in exposing the consequences for the GOP's plan. KEEP IT UP!
 you guys that like the GOP-you reap what you sow!!!!
they always have the backs of the rich and forget the common man!!
Â
Democrats currently have more big business in their back pocket then even the GOP has you . And were you this concerned when the 2010 congress did not EVEN DO A BUDGET?
Jake
Typical GOPTP misdirection ploy. How about addressing the loss of 700,000 jobs and the impact on America's economy. Try to keep up Jake.
Yes, lets keep the 700,000 jobs, add another 700,000, drive the debt past 20 trillion, make the dollar worthless and in the end become the next country with an economic collapse. Sounds wonderful.. where do I sign!
/sarc
Eventually we have to bring the debt under control and it will hurt... ooo will it hurt to do so. The sooner we do it the less it will hurt... if we wait 5 years the number of jobs to bring it under control could easily be twice 700,000.
Its no different than when a family brings their budget under control, it means less eating out, fewer toys at Christmas and a myriad of other things. It sucks that so many have to go unemployed but if we don't make REAL cuts to the budget and create and keep a budget surplus to pay off the national debt we will be completely broke and there will be no jobs for no one. Now if the democrats have a real idea for a budget that will creat a surplus THIS year, and not 6 years later then I am all for it.
Democrats' failed stimulus plan," wrote Brian Patrick, a spokesman for Majority Leader Eric Cantor.Â
Cantor is a biggest lying POS in that all GOP's flock of pigeons. 700.000 jobs down, no problem, any thing else in the name of the country?
Emma, what union or public employees group do you belong to?
700,000 jobs----well that should take care of the remainder of the middle class. Rich and poor will be the only ones left. I wonder who will pay the taxes???
Dave,
Wonder no more - it will be the poor... there will be a never-ending "crisis" that will drive up the cost of everyday products (speculation) while the true cost remains fixed at a lower amount. How much money do you think "big oil" just made with this phony Lybian oil crisis - figure 10, 15 maybe even 20 cents a gallon in inflated gasoline prices for a shortage that never even occurred - times how many millions of gallons of gas??? Big Oil just made a few extra billion dollars off of a fake crisis...
So is this Eric Cantor's "Read my lips!" moment? Is he saying that the Republicans positively know that 700,000 jobs will not be lost? It would be good to write this down.
That was Boehner. Boehner also said "So be it" about jobs being lost.
Is there anyone who voted GOP last November NOT suffering buyers' remorse? Anyone who didn't vote wishing desperately they had?
 Lets start with all the elected officials and work our way down
And this is a surprise? When will we understand that the Republicans / teabaggers don't give a rat's ass about anybody but their super wealthy contributors. If you're not among the top 2% wealthiest, you're not worth a plug nickel.
Look, at the end of the day, there are going to be LOTS of jobs lost if we want to get back to a balanced budget and no debt.
The ONLY way this won't happen is if the majority, and I mean like 99% of the people, who work for the government and the contractors take a big paycut, and I'm talking at least 25%-50%.
This isn't hard to figure out or understand. When someone spends beyond their means (which the gov does) and spends more on things it shouldn't and continues to make money and print money and continue to go into debt, it basically distorts the market and what people are worth.
I mean how many jobs did the government 'create' the last 15-20 years with borrowed money. It's easy to create anything and continue to borrow without ever balancing or paying it back. (see housing crash)
Over the years, most contract and government workers have enjoyed 3% or more in increases for over 15 years at least...and we know the government waste and fraud that is out there.
So unless those people don't want to lose their jobs, most are going to have to take a serious hair cut on their salaries and jobs if they want to keep them..otherwise the government will have to get it's ducks in a row and cut a lot of jobs.
Just can't continue to spend more then we take in.
or...now God forbid we would have to resort to this, we could raise taxes just a little bit on the ones who can afford it.
That doesn't address the fact that the Government is spending more then it takes in.
And if you try to tax people more, they will (if they have the option) move to somewhere that has lower taxes and/or leave the country.
The super rich that you want to tax can just up and leave.
In the end, raising taxes is never a good option...
The issue that continually is ignored is that people and the government spend more then they make or take in. It's time that the Gov has to abide by the same rules we common folk have to.
James fell for it hook line and sinker. He thinks there will be a mass exodus if the uber wealthy have to contribute 3% more. LOL james, what does it feel like to live in a cloud of fear all the time? Gee, wonder why all those uber wealthy stay here now?
This is the same feeble game that is always played. Whenever there is talk about cutting jobs in the public sector the nay sayers immediately go right to the middle and lower lever jobs. The teachers, the firemen, the policemen etc. etc.
Why not start at the top where I would guess that we have an over abundance of administrators. Change the tax system to a flat, slightly graduated tax and you could reduce the IRS by hundreds if not thousands of unnecessary and unproductive jobs.
Restructure the welfare system to help people help themselves to get a better education and a job and you can reduce the number of case workers that would be needed to help people to help themselves rather than indoctrinate them into the welfare lifestyle where all they gotta do is show up at the mail box to get their benefits. Isn't it funny a person who has worked for 10, 15, 20, or 30 years and gets laid off and collects unemployment has to show that they have applied for three jobs each week but if some case worker determines you qualify for welfare you don't have to do anything.
Get rid of some administrators, assistance principle in the school system and save a few teachers jobs.
Combine the town and county police forces and maybe you could get rid of some jobs at the top of the police force who are administrators and save a few street cops.
Instead of fighting against needed change to save money try developing a plan that would save the critical jobs and reducing the redundant glory jobs at the top.
Bernie Madoff is right! The entire government is a Ponzi scheme.
Bernie Madoff is right. Jesus was just a guy.
"Restructure the welfare system to help people help them....blah blah blah"
Um....we did that in the 90s. Welfare wasn't even mentioned in the GOP Platform in 2008. Try to keep up.
Find another boogey man to scare people with. Weren't all the jobs taken by flag burning, male florists?
" to get a better education and a job......."
Are you paying attention at all? There are NO jobs, whether you have an education or not.
Please tell me what kind of education a laid off factory worker or teacher is supposed to get and exactly what job will it qualify him for? Typical Republican response. Slogans. Get an education and everything will be better. No, it won't. Unless you're Indian or Chinese.
Hey sam-blah-blah-blah I am a registered democrat, most of these people on welfare dropped out of high school and couldn't get a factory job even if there were factory jobs to be had. They couldn't get out of bed to go to school in the first place, they need to have some structure forced on them.
The reason there aren't any jobs is because companies moved out of the country because both the democrat's and the republicans either over taxed and/or over regulated businesses. Free trade agreements were negotiated to allow companies to move to other countries for cheap labor. Unions did not know when too far was too far. Businesses don't realize if there is not a population with jobs they have no one to sell their products, or provide their services to. The Unions have not figured out how far is to far.
Being a Union member in the steel industry for almost 34 years, holding Local Union office for 29 years and being involved in 7 contract negotiations with 5 of those negotiations resulting in strikes I have a better insight than you may understand.
You mention Indians and Chinese why not mention the Arabs and the illegal hispanics while your at it. Where were the Unions when these people were being brought into this country under the H1B1 programs and the Indian and Chinese were replacing American citizens in so called hi-tech jobs, where were the hi-tech educated Americans when the American factory workers were being replaced by illegal aliens or legal aliens being brought in by the Catholic Charities.
Here's the problem sam-blah-blah-blah when we ceased being unified American citizens and became a nation of hyphenated multi-cultural groups was the beginning of the end, the only way out is to stop the madness and realize that in order for the United States of America not to go the way of so many other great nations of the past is to get back to being one nation connected to each other by a common culture.
I believe wholeheartedly in Unions in the private sector but am usually disapointed in the people who rise to power in the international unions. Public unions are not the same as unions in the private sector, when they can buy the votes of the democratic party and then negotiate with the same people that they helped to get elected. And by the way sam blah-blah-blah unless you are a public union member your taxes pay their salaries that goes to elect the people who negotiate the raises for the public unions.
Is this the same guy who came up with the estimate that a $800,000,000,000 'INVESTMENT' would preclude unemployment going above 8%???
If this 'economist' is concerned about government jobs, then GOOD! It would be great to cut them! Obama's problem is that he will not get as much $$$$$$$$$$ from the unions if he does not continue to hire BIG GOVERNMENT BUREAUCRATS to slow down progress even further!
Hint to Team Obama -- you folks lost credibility by the tricks that were played on OBAMACARE, and your lack of homework on the stimulus.
NO LONGER TRUST A STATEMENT THAT IS MADE BY ANYONE IN THE ADMINISTRATION!! (do you?????????)
Please stop the SCREAMING. That being said. Half of the stimulus was tax cuts. So much for tax cuts creating jobs.
They're just too dumb to realize that if hundreds of thousands of union auto workers, or union government workers lose good paying jobs or have their compensation cut in half, it affects EVERYONE.
These are the same people who've been telling us for the past decade that "outsourcing is good", we have a "service economy now" , or "We have a consumption based" economy now. We don't need to manufacture anything and it's good to outsource all of our knowledge based jobs to cheaper labor. NOW, they're screaming, "Where are the jobs!!!" Well, duh. YOU got rid of them because YOU didn't WANT them. Starting to miss them now?
Look.. any political party that was dumb enough to believe Voodoo Economics and the Bush Tax cut is dumb enough to believe that cutting $100 billion out of spending will not cost jobs.... (that's not to say that we should not cut)... but there isn't any tooth fairy... you cut you loose jobs....
It's not that they believe it won't cost jobs, it's that they don't care. "Jobs", like "Freedom" is nothing but a slogan to the right wingers.
Trust me. Corporate America LOVES the high unemployment rate. They were miserable in the 90s when everyone had a job and they had to compete for workers. That extra compensation to attract workers came directly out of their fat bonuses. No problem now.
And if they say "God", "Jesus" and "I vow to protect your guns", they get automatically get elected.
Once those people lose their jobs I think we should be sure their families don't get any help with medical insurance. Why should we support a bunch of lazy bums? And no food stamps either. Oh, and while we're at it let's fire their kids teachers if those teachers are union workers.
The rich, on the other hand, could use more tax breaks.
Please, someone, answer this: If Republicans are the party of "no" and didn't allow the poor Dems to do ANYTHING, how in the world did the Healthcare law pass?
They reached a point where their ineptitude was so glaring that even the biggest Limbaugh supporters in the country voted for the guy who could do math and think logically. Now that two years have passed those same voters have forgotten that there was a financial meltdown in 2008, so the whole scenario will probably repeat itself under the USA is firmly entrenched in a 3rd world (mega-rich or dirt-poor) economic pattern.
Acting like spoiled kids, to let Obama makeing the biggest Presidential mark in century, no way.
Its not about Health Care, its WHO brought it to the people.
The Democrats utilized a special legislative process called "reconciliation" to pass HCR over Republican objections:
http://en.wikipedia.org/wiki/Reconciliation_(United_States_Congress)
GW Bush used reconciliation to pass three major tax cuts, which is why they expired after 10 years.
Even though the Healthcare law contained many ideas that Republicans had included in their bills - they mysteriously were opposed to the entire idea of Healthcare legislation. It was able to pass because a few Republicans were able to put the needs of this country above themselves and provided the votes necessary to get the bill passed...
It's true BobbyG- there are starting to be a few conservatives who don't march in lock step with the Newt-style GOP. Hopefully those serious thinkers will take their party back from the mercenary religious hypocrites who run it now.