Jobs, what jobs? Amazing!! Bloomberg is reporting:
House Republicans’ $61 billion budget-cutting plan would cost 700,000 jobs, according to a report likely to inflame the debate over the U.S. government deficit. The measure would reduce real economic growth this year by 0.5 percentage points and by 0.2 percentage points next year, resulting in 700,000 fewer jobs by the end of 2012, said Mark Zandi, chief economist for Moody’s Analytics.
Last week, Goldman Sachs said the House budget plan would shave between 1.5 and 2 percentage points off economic growth during the second and third quarters of this year.
Unlike the rigid ideological agenda pushed by Republicans, the real world economic underpinnings are constantly changing.
Zandi said the proposed spending cuts would come at a particularly inopportune time because the economy is under new pressure from rising oil prices.
Maybe they’ve been too busy taking Koch brothers phone calls to notice.