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View Diary: It's time to pivot to jobs, but it isn't going to happen (125 comments)

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  •  you mean... (10+ / 0-)

    ...the Republicans won't live up to The Deal? Didn't they just agree to...

    WASHINGTON (AP) -- The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending should have only a minor impact on the economy for the next two years.

    Almost all the cuts would be made in 2014 or beyond. The approach heeds a warning by Federal Reserve Chairman Ben Bernanke and many private economists: Cutting too much too soon could harm the weak economic recovery.

    Yet the deal won't do much to help the economy, either, at least in the short term, economists said.

    Under the debt deal, discretionary spending, which excludes Social Security, Medicare and Medicaid, would be cut $21 billion in 2012 and $42 billion in 2013, according to an analysis by the Congressional Budget Office.

    You think Republicans will try to cut more than that in 2012 and 2013 budget process? Who knows...maybe add a zero to those numbers? And they will hold the country hostage by threatening a government shut down if Harry Reid doesn't go along?

    But we have a Deal!!!! The cuts in 2012 and 2013 are small. And certainly we can take John Boehner at his word.

    Not looking forward to the next 18 months.

    (snark off)

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