Monday, February 28, 2011

GOP Cuts Would Destroy 700,000 Jobs

A plan to lose 700,000 jobs and destroy the economy? What? Is George W. Bush back in power?:

Zandi, an architect of the 2009 stimulus package who has advised both political parties, predicts that the GOP package would reduce economic growth by 0.5 percentage points this year, and by 0.2 percentage points in 2012, resulting in 700,000 fewer jobs by the end of next year. His report comes on the heels of a similar analysis last week by the investment bank Goldman Sachs, which predicted that the Republican spending cuts would cause even greater damage to the economy.

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