Pass it on. People need to know that the Republicans are continuing their attempts to bring this nation to its knees economically. First, they caused the Great Recession. Second, they opposed all of President Obama's attempts to prevent the Great Recession from turning into the Second Great Depression. Now they seek to destroy the weak but growing recovery.
A Republican plan to sharply cut federal spending this year would destroy 700,000 jobs through 2012, according to an independent economic analysis set for release Monday.
WaPo: GOP spending plan would cost 700,000 jobs, new report says
The report, by Moody's Analytics chief economist Mark Zandi, offers fresh ammunition to Democrats seeking block the Republican plan, which would terminate dozens of programs and slash federal appropriations by $61 billion over the next seven months.
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.
WaPo: GOP spending plan would cost 700,000 jobs, new report says
One has to ask, on which country's side are the Republicans? They sure seem to have it in for Americans.
Update I: Here is a copy of the full report, linked at the Plum Line:
Zandi, A federal shutdown could derail the recovery
Greg Sargent points out that this is the second report in a week to determine the Republican budget cuts will harm the recovery and kill many jobs.
But this is the second outside analysis to reach this conclusion. Last week Goldman Sachs, in a confidential report to clients, concluded that House GOP budget cuts would be a drag on the economy and cut economic growth by rougly two percent of GDP.
Greg Sergant, The Plum Line