making the economy worse, on purpose

Steve Benen (Washington Monthly): If federal policymakers want to make the economy worse, on purpose, all they have to do is approve the Republican agenda. The Financial Times has this report today:

“The Republican plan to slash government spending by $61bn in 2011 could reduce US economic growth by 1.5 to 2 percentage points in the second and third quarters of the year, a Goldman Sachs economist has warned……”

…Remember, this analysis comes a week after additional research found that the Republican spending cuts could lead to roughly 1 million job losses. (Asked about this, Speaker John Boehner replied last week, “So be it.”)

…We now have independent analyses showing that the Republican spending measure would push the economy back towards a recession and would deliberately make unemployment worse. If Democrats balk, the GOP will shut down the government.

Why this isn’t the lead story in every news outlet in the country remains unclear.

Update: I suppose the next question is why Republicans would pursue a plan they know would slow the economy. Among the possibilities … they have to hurt the country on purpose to undermine President Obama’s re-election chances … I’d love to understand the GOP’s motivations, but just as importantly, I’d love for the media to press the GOP on its motivations.

Read the full article here

5 Responses to “making the economy worse, on purpose”

  1. 1 Andogriff
    February 24, 2011 at 10:36 am

    Thanks for this one, Chips… I passed it on.

  2. 2 DoNoHarm
    February 24, 2011 at 12:30 pm

    Me too!

    • 4 bjw2
      February 24, 2011 at 9:46 pm

      Sonjja, you will be glad to know that Rachell Maddow did a segment on this report tonight. Lets hope more will do their job of actually reporting the facts.

  3. 5 Eleroy
    February 24, 2011 at 10:18 pm

    Shame on these republicans. They SUCK!!!

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