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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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We could and should cut 700,000 federal and state union jobs tomorrow and the country would be better off by cutting into Hussein's socialist spending. Doubt very much if anyone would feel the impact, with the exception of the tax eating workers, who should not have had the union jobs to begin with. Opps, I ended the sentence with a preposition..." the union jobs in the first place".
"something something Hussein, something something Socialist."
I'm sure that is a job that truely wouldn't be missed Bill.
MR. Boehnor, WHERE ARE THE JOBS! Quit using social wedge issues like abortion or DOMA! Republicans ran on a platform of reducing spending and job creation but there has been no new plan since they took the house. If they get their way, there are going to be more lost jobs and more deficit spending. Item #1 Healthcare bill. The CBO, a non partisan group has said repeatedly that if the healthcare bill is eliminated, it will ADD over 300 billion to the deficit. Item #2 slashing federal jobs. 700,000 jobs would be eliminated if they get their way. That's more people on unemployment insurance, more people on welfare or food stamps, more people on cash strapped medicaid instead of earning a decent wage. When did being a public or government worker become a four letter word? Item #3 the stimulus. This country lost over 4 trillion dollars of personal wealth when the recession hit and the stimulus was 787 billion dollars. It was never intended to be a magic bullet! Over a third went to cutting taxes for lower income and middle class Americans. Again the CBO has stated that if there were no stimulus, the unemployment rate would be between 12% and 14%, not 9% which is where things stand now. Was it perfect? No. But it was better than nothing at all.
It kills me that the same people who spent a trillion dollars in a stupid war in Iraq, a giant tax cut for the wealthiest 2% of the population and almost $800 billion in no questions asked TARP money are the same ones crying about fiscal responsibility in government. If your some criminal on Wall street it's OK but if your a middle class person with family who actually make or do something tangible in this country forget it! You are a greedy bastard in their eyes. Case in point, the auto industry bailout. If idiots like Sen. Coarker had their way, there would be no GM, Ford or Chrysler. Oh, by the way, a lot of imported cars are made in states like Tenn. IN. Kentucky and Georgia. Coincidence? Now, thanks to the bailout, not only are our cars thriving, sales are up and quality is superior than the imports.
You mean you don't have a job? How can that be?
1. 800 billion dollar stimulus
2. Shovel ready jobs in the millions
3. Recovery Summer
4. Unemployment insurance adding to the economy according to Pelosi
Buy the way, the CBO uses the numbers they are given. Therfore they have different numbers all the time. No real analysis here. But I guess after two years of failed policies by Obama, he had nothing to do with it. He agrees.
hearing comments from Steve is what Scott Walker wants to do. Divide the middle class, and do the work of the Koch brothers to dismantle it completely. By calling government workers the haves and the others have nots, why not work to make everyone haves instead of destroying the haves?
Most of the people who want to tear down teachers, fire fighters, machinists,etc. realize on some primal level that they don't have the smarts to get jobs like that.
Truth be told, Mitch told us last year what the GOP agenda was...to destroy Pres. Obama. They know that cutting spending in this drastic way will only keep or increase UI. Then they will blame Pres. Obama for not improving the economy...It's all politics. Also, the union busting going on across the country is the second step towards creating an Oligarchy in this country...First step was Citizens United decision. The GOP knows that the Dems revenue and grass root base are supported by the unions. Once they destroy the unions, the dems will be toast.
Union membership was at it's highest in the 1950's, and the middle class grew the largest. Eisenhower also had the highest tax rate at 91%. Now we have union membership in decline, middle class shrinking, the highest rate is at 36% and we are up to our eyes in debt. If we are going to cut our way out of this, we may have to start cutting people, physically.
It is going to be painful no matter where we cut or who does the cutting. What ever is in the past is over, I can't believe we are still on some kind of blame game. It's over get real, we have serious cutting to do - all of it. We can not continue to spend this way.
Did you complain when bush was spending and putting to senseless wars on the credit card. Where were you then....I do blame bush and always will. Anyone with a brain knows when the problem started: When bush stole the election twice...
No, been there didn't blame Bush when he was spending like a drunken sailor. Hence the sentence "Whatever is in the past is over". That's his way of saying, nothing to see here move along. Repubs don't want the country to keep in the forefront that it was them who took us to the brink of collapse. That's whythey created the TP out of thin air. They had to get away from the 21% Bush legacy.
Nope wrong - voted for Obama and got sick of just more of the same from him and the last Congress. I vote for who I think will do the best job - never was Bush. But I had more faith in Congress and they have made a mess no matter if it was Dems or Repubs. So Just keep running through both parties - or no party just get the spending down. The war is crazy - no one is behind our soldiers anymore. Close some bases, yeah everyone will have to do less with less. We made this mess by voting for a lawyer who wants to go to congress. Health care - what a sham, expected something to put our teeth in. All talk since now it's backed up to 2017, keeps major insurance companies into a new shad of black and thats all it accomplished.
The republicans DO NOT CARE if there are 700,000 or 1,000,000 job losses! Heck, in the last half of bush-idiot's last year, we were losing 700,000 jobs per month, did that change anythig?
Why don't they care? Well, twofold -- one, if the economic recover faulters, they will blame Obama. Two, slahing spending ike this -- irresponsibly -- makes the GOP appear budget conscious! However, when you lose 700,000 jobs, you also lose all those income tax payments, Social Security payments and employer tax duplication for Social Security and MedB.
Obama is not going to sign off on an irresponsible Bill....
Keep in mind now -- this is the same GOP tha theld Middle Class tax breaks hostage in order to get their ultra-elitist tax breaks extended -- which basically cost the Treasury $700-billion, thank you very much.
And, in case you have not noticed, the big-oil GOP friendlies, are manipulating oil prices and thus the massive increase in gasoline pricing -- why? Again, to force the recovery to faulter, and again blame obama. These are the very same elitist-pigs who got their massive tax breaks. Their response? What they call trickle down, and why no man or woman or child should ever eat YELLOW SNOW!
The gravy train is empty. Let the crying begin. On your part the crying has already started. Whats the matter no one left to pay your bills?
Tony, tony, tony -- I pay more taxes than you likely make in income, altogether, and I hear your sassy remarks: that intra-cranial void echoing your ignorance reverberates worldwide. The gravy train of hundreds of billions is running along just fine -- right up there to all those elitists pigs who own the GOP, outright.
I have no reason to cry, but, I damn sure have more than enough reason to speak my mind when jerks like you would support such an obvious criminal oriented enterprise, which I term the Gestapo On Parade.
Denny - the gravy train is running off the cliff, you are probably too young to remember how this country can rise to any occasion. But we are to slow, settled in with the status quo of keeping up with the Joneses, forgot we had to pay the bill someday. Well the piper showed up 2 years ago and wants paid. Obama just fed us what we wanted to believe - He just forgot to pack his dancing shoes when he moved into the White House.
CUT THE RED LINE
http://money.cnn.com/2011/02/16/news/economy/middle_class/
Talk about wealth redistribution!
No surprise here. The Repubs realize that the economy will improve up to 2012 so their only chance to capture the White House is to crash the economy again. The Repubs never cared about paying the bills when they were in charge. One fact that cannot be disputed. The economy is in better shape now then when Obama became President!
Republicans will have to account for all of what they have done to stop this economy from growing come 2012.
What data are you quoting? Never mind that would require being able to read.
Republicans started this recession and are now hell-bent on throwing America into a depression.
MOst of those cuts would come from the bloated, redundant "public sector." Plus, like someone stated earlier...if we don't make some SERIOUS cuts and soon...there will be far more than 700,000 jobs lost. Get real people...this nightmare IS real. 15trillion...4 billion a day in interest. We either hunker down now, or might as well put a gun to your head when the country files bankruptcy. You won't want to be around if that happens.
More deception from the republicans, always work to discredit the person speaking first and never answer the question raised.
Where are the jobs, teabaggers?
I guess the repubs are hell bent on finishing up where GW left off (destroying this country)....
republicants won't have a chance in hell of winning in 2012....just like in 2008...
Go Team Obama...
You been asleep for two years? Wealth won't destroy this nation. But self absorbed people with an entitlement mentality like you will.
Can the middle class survive untill we dump the republicans in 2012?
We've got to do something sooner than that. Look at the situation in Wisconsin. Trying to dismantle the entire system that balances power between management and workers.
He's not the only economoist saying this, but hey as long as they are just ordinary people you know the ones like you and me that work for a living that will lose their jobs, no problem, just as long as those tax cuts for the wealthy are holding steady then everything is Ok with John Boy and Cantor!
That's their definition of a successful economy-- the rich keep getting richer. Those other people don't count.
The 700,000 jobs are federal jobs that should not have been created to begin with. Expanding government jobs is only a stress on the public sector taxpayers, and does not increase the GDP. Therefore, killing public sector jobs will not significantly harm the recovery, and will, in the long run, increase money available for private sector hiring. Sorry, but the Federal jobs need to be severely cut.
Your analysis is wishful, and yet severely flawed. When people are out of work, they don't spend money. Since our economy is driven by consumer spending, having another 700K workers out fo a job will severely affect our economic recovery, especially on a state level. While I agree that curbing public sector Unions is a good thing, the GOP reasoning and short term affect are always BS. If the GOP does not agree with you, rather proving you wrong with fact, they simply try to discredit you. Much like the 8 years of Bush/Cheney. GOP = JV!
"the hip bone is connected to the leg bone, the leg bone is..." 700,000 people with no money to pay rent or mortgage, 700,000 people not able to buy cars, 700,000 people with no money for groceries. Add to that the people no longer collecting rent or mortgage money, no longer selling cars or groceries. Yep, that's the way to improve the economy.
I wonder how many of those 700,000 jobs are the mothers, fathers, or grandparents of children whose parents died going into the World Trade Center...
...the mothers, fathers, or grandparents of children whose parent(s) died in the initial push into Afghanistan...
...the mothers, fathers, or grandparents of children whose parent(s) died in Iraq...
...the mothers, fathers, or grandparents of children whose parent(s) died in later fighting in Afghanistan...
You keep asking these children to sacrifice, yet, these GOP supporters refuse to sacrifice a single tax dollar to keep these children safe and secure.
When is the demand of sacrifice from these children and families going to end?
Those fire fighters who ran into the World Trade Center were union members. Leeches on society.
???? What does this have to do with 700,000 jobs?????? There are way more people to think about. And enough of all this, my children in the army don't have to anything but worry about their job.
The GOP represents the richest 1% of Americans. Anyone else who votes for them is just a sheep. And BTW - Goldman Sachs estoimated that the spending cuts would adversly affect the economy more than Mark Zandi. Not sure why that was left out of article, but it just shows what a bad politician Eric Cantor has become!!!
The GOP reminds me of a story I heard once. A man calls a plumber to fix a leak in his bathroom but when the plumber tells him the cost he refuses to pay and tries to fix the leak himself. He goes to the local hardware store and finds the cost of the fixture to high and the instructions hard to understand. So the man grabs a roll of black tape and wraps the pipe. That works for about a week and the pipe blows out. The damage done would have paid the plumber 10 times over and bought over 2,000 parts at the hardware store.
That is the GOP in a nut shell.
Slinger, you would be happy to employ those people right? NO you would not care how many people, including children YOU put on the street.
See, what the right isn't telling the public is that if the tax cuts were allowed to expire, there wouldn't be a fiscal "crisis". Quite frankly, the left is not doing a good job with this either. Should make you wonder who they are really working for. the tax cuts is costing the government 2.6 trillion dollars in revenue. anyone who ever taken an accounting course can see that the GOP is cooking the books in order to please thier constituents. i.e. themselves
OH goody! we can save 700,000 jobs and Destroy the country and all of the tax payers can file for Bankruptcy and go homeless! for the benefit of the UNIONS! I DON'T THINK SO!!! viva TEa party! get rid of RINO's and Demonrats.
edwardo- you really don't know squat about American history do you? The unions were formed in reaction to people being homeless. Try reading "How the Other Half Lives".
All of the above happened in 2008-2011 and our homes are worthless, our savings has been eradicated, and the UNIONS want MORE and MORE, Thank you Barny Frank, Nacy Pelosi and Harryless REid.
Edwardo, are you really paying attention? or are you just toting the GOP line of BS. The Unions had made concession in majority of the cases. So why would you blame the unions? Obviously, you haven't really been paying attention, unless you are pay attention to faux news or you just can't comprehend. They have cut taxes to the point were now it's affecting our standard of living. i.e. strong police and fire depts. they want to privatize these functions in order to make a buck. Wake up man. they are destroying this country on purpose to create an Oligarchy
your home is worthless because your politicians exempted the rich from paying taxes and then decided to wage a colossally expensive holy war in the Middle East.
I guess the twin goals of securing oil wells for Halliburton and ridding the world of infidels were just too much to resist, huh?
Edwardo, don't feel too bad; you are not the only fool out there who somehow doesn't understand that "the unions" are not free-standing entities, but organizations that represent workers, and the benefits and wages they "want" are for those workers. You. Even if you work a non-union job, you benefit.
the best thing anyone can do to support the middle class and working class is to boycott everything the koch brothers sell. you should also boycott coor's beer. these are the 2 groups of billionaire greedy dumb excuses for human beings that are behind the tea party and beck, hanity, o'reilly and all the other foolish hate mongers trying to destroy america.
That shouldn't be hard. Coors is horrible beer.