Thursday, September 27, 2012

Romney’s Budget Plan Could Kill Millions Of Jobs Over The Next Two Years

THINK PROGRESS

The budget and tax proposals put forth by Republican presidential nominee Mitt Romney would not lead to the economic prosperity and job growth he has claimed, according to a new study released this week. In fact, the Economic Policy Institute found that Romney’s plans would actually lead to a net loss of jobs over the first two years of his administration, and the losses could grow even larger if Romney were to stick to his promise of reaching a balanced budget.
EPI had to make assumptions about Romney’s plan because of its lack of specificity, but according to its analysis, Romney’s plan to lower taxes and cut spending would cause a net loss of 554,000 jobs over the next two years if Romney abandons his plan to pay for the massive tax cuts he has promised. But if he maintains his promise to balance the budget while also providing the huge tax cuts, his plan would “lead to employment losses of 608,000 in 2013 and roughly 1.3 million in 2014″:



The deep spending cuts Romney has promised are the primary reason for the job losses, EPI’s analysis found. If Romney does pay for the tax cuts, as he insists he will, the spending cuts would get even deeper and thus cause the loss of even more jobs. Another independent analysis, meanwhile, found that fully paying for Romney’s tax cuts would require raising taxes on the middle class.
Romney’s call for a Balanced Budget Amendment would cause even more problems. “Government spending cuts of this magnitude would constitute an economic shock even larger than the one inflicted by the bursting of the housing bubble—a shock that led to the worst recession since the Great Depression,” EPI wrote. But because that shock would be so large, EPI concluded that passage of such an amendment is “exceedingly unlikely” and it chose not to include it in the analysis.

1 comment:

stanchaz said...

I have some advice for Mitt:

In a news story from Minnesota that crossed "the wires" a few days ago, there is a potential lesson -and hope- for candidate Mitt Romney. The very  same Mitt Romney who in recent remarks, abandoned nearly half the people in America.

It’s a story about a 4 year old Pekingese dog, appropriately enough named "Mittens", and an abandoned kitten. Stay with me.

Mittens' owner, Pat Weber, says the kitten was just days old when her grandson found her in the family's barn and brought her into their house in early September. Weber says the 2-inch kitten was "ice cold," ...She wrapped the animal in a warm towel and it started meowing, which attracted Mittens.

The kitten, now named Bootsie, began suckling on Mittens. Weber says her dog, which had a litter two years ago, has nursed Bootsie ever since.  "Mittens has been mothering this baby, as far as she is concerned it's hers," she said. "And as far as the kitten is concerned, this is her mother”.

Mr. Romney:  What a wonderful, heart-warming lesson for you!

For if Mittens the dog can find it in her heart, not only to adopt Bootsie the cat, but to actually start lactating for her....then perhaps Mitt, the candidate, can ALSO start lactating a bit with the milk of human kindness and understanding- for all those Americans that HE has abandoned. 

Who knows?.. it might even encourage Mr. Romney to run as President for ALL the people  - not just a potential President of the wealthy, by the wealthy, and for the wealthy. 

Think about it Mittens ....I mean Mitt.

But don’t you worry Mitt:
‘cause while you may never be elected dog-catcher,
or anything else, (and for good reason!)
.... I’ll bet you ten thousand dollars
that Mitt Romney, the Big Flipper, 
will ALWAYS have a job at
The International House of Pancakes  :).