Once again the Republican Party has proven that they are not the party of economic growth. Studies of the recent legislation passed by GOP Speaker Boehner’s House of Representatives were analyzed by both liberal and conservative groups and the projections are alarming:
"The new GOP budget proposes cutting non-security discretionary spending by $81 billion relative to the president’s $478 billion request for 2011. Non-security discretionary cuts of this magnitude would likely result in job losses of just over 800,000.” – Rebecca Theiss, Economic Policy Institute, a nonprofit Washington D.C. think tank, created in 1986 to broaden the discussion about economic policy to include the interests of low- and middle-income workers.
"The spending cut package that passed the House of Representatives would have a deeper effect” on economic growth than the spending cuts proposed by President Obama. “Under the House passed spending bill, the drag on GDP growth from federal fiscal policy would increase by 1.5% to 2%” in the second and third quarters of 2011 as compared with current law. -- Goldman Sachs proprietary report.
“A Republican plan to sharply cut federal spending this year would destroy 700,000 jobs through 2012”, according to a report, by Moody's Analytics chief economist Mark Zandi, one of the advisors to John McCain in his failed presidential bid.
Meanwhile, the same Republicans that pledged that this last election was all about “Jobs, jobs, jobs” have failed to introduce a single bill that will create jobs.
Who keeps voting for these fools?