The Republican budget cuts would cut GDP growth by 2% and cost 800,000 jobs.
The federal budget cuts supported by the US House Republicans will stifle US economic growth by some 2% of the GDP and cost some 800,000 jobs. The state budgets cuts by Republican and other governors have caused .5% less growth in the US GDP in the 4th Quarter of 2011. It is apparent that Republicans are cutting spending at federal and state levels so they can defeat President Obama in 2012 because the worse the economy is, the better chances Republicans will defeat President Obama and make him a “one term president.”
The US House Speaker, John Boehner (R-OH) says; “So be it!”
Governor Mitch Daniels (R-IN), mentioned as a future GOP presidential nominee, told Meet The Press said; “…yes” to state budget cuts even if they would result in fewer jobs and less economic growth.
I guess the 2010 mid-term voters who voted for Republicans all thought that it would be a good thing for their Republican office holders to stall economic growth by 2% of GDP and cost some 800,000 jobs.
Mr. Boehner, where are the jobs?