GOP Budget Cuts Could Derail Recovery
Posted: Tue Mar 01, 2011 12:08 amGOP Budget Cuts Could Derail Recovery
Just after a Goldman Sachs report predicted that proposed House Republican budget cuts would hurt economic growth, a new Moody's report finds the same.
Key finding: "The House Republicans' proposal would reduce 2011 real GDP growth by 0.5% and 2012 growth by 0.2 percentage points This would mean some 400,000 fewer jobs created by the end of 2011 and 700,000 fewer jobs by the end of 2012."
Furthermore, the report claims "a government shutdown lasting longer than a couple of weeks would do much more damage to the economy."
http://politicalwire.com/archives/2011/ ... overy.html
Just after a Goldman Sachs report predicted that proposed House Republican budget cuts would hurt economic growth, a new Moody's report finds the same.
Key finding: "The House Republicans' proposal would reduce 2011 real GDP growth by 0.5% and 2012 growth by 0.2 percentage points This would mean some 400,000 fewer jobs created by the end of 2011 and 700,000 fewer jobs by the end of 2012."
Furthermore, the report claims "a government shutdown lasting longer than a couple of weeks would do much more damage to the economy."
http://politicalwire.com/archives/2011/ ... overy.html