From The Hill, GOP study backs ‘cut and grow’ but says new jobs could take time:
…The report from Republicans on the Joint Economic Committee Republicans does not guarantee that cutting spending in 2011 will create jobs immediately.
It only states that cutting federal spending “may” create jobs in the short-term.
The American people can’t wait.
320 of the nation’s leading economists have already signed a letter opposing the GOP’s cuts to federal investment – calling these cuts “short-sighted” and a threat to “our economy’s long-term economic competitiveness and strength of our current economic recovery.”
Mark Zandi, chief economist at Moody’s Analytics and former adviser to Sen. John McCain has said that because of the “halting economic recovery” the GOP’s So Be It spending cuts would be “counterproductive.”
Fed Chairman Ben Bernanke says the impact of the irresponsible spending cuts could cost 200,000 job – “it’s not trivial.”
Under Democratic leadership we have seen 12 consecutive months of job growth with more than 1.5 million private sector jobs created – that is more private sector jobs than were added in the eight years of the Bush Administration. But with millions still out of work, we must do more to build on this progress and restore prosperity to all Americans.
It is time for Republicans to put down their “So Be It-No Jobs” agenda and join Democrats to create jobs, strengthen the middle class, and responsibly reduce the deficit.