“Should we look at regulations and make sure they make sense from a cost benefit standpoint? Certainly. Should we reduce the budget deficit over the long run? Certainly,” Faucher said. “But in the short term, demand is weak, businesses aren’t hiring, and consumers aren’t spending. That’s the cause of the current weakness — and Republican Senate proposals aren’t going to address that in the short term.”

“In fact, they could be harmful in the short run, if the focus is on cutting spending,” Faucher continued. “They don’t say explicitly when they would cut spending, but the Republican focus is on cutting spending sooner and later.”