When Republicans were running for office in 2010, they called everything Democrats did “job killing” and everything they planned would create jobs. They were lying, of course. That’s what Republicans do best. But some voters believed them. Other voters were mad and stayed home or cast protest votes, and elections do have consequences. We all have to suffer them, even the Republican politicians. They are suffering because they had to come up with a budget, not just say NO over and over again, and the economists are starting to report on that budget. When confronted, Speaker Boehner, AKA Agent Orange, said that, if it costs jobs, SO BE IT! If he repeats it once for each job Republicans kill, he will have to say it 700,000 times.

House Republicans’ $61 billion budget-cutting plan would cost 700,000 jobs, according to a report likely to inflame the debate over the U.S. government deficit. The measure would reduce real economic growth this year by 0.5 percentage points and by 0.2 percentage points next year, resulting in 700,000 fewer jobs by the end of 2012, said Mark Zandi, chief economist for Moody’s Analytics. He said budget- cutters should wait until the U.S. economy is stronger, saying Republicans “would be taking an unnecessary chance with the recovery.” “Significant government spending restraint is vital, but given the economy’s halting recovery it would be counterproductive for that restraint to begin until the U.S. is creating enough jobs to lower the unemployment rate,” Zandi said. The House approved its plan Feb. 19. Democrats who control the Senate have said they wouldn’t accept the reductions. A spokesman for House Speaker John Boehner, an Ohio Republican, dismissed Zandi’s report… [emphasis added]

Inserted from <Bloomberg>

I does not take rocket science to figure out that, in a demand starved economy, taking away government spending will reduce demand even further. Less demand means leads to less production. Less production results in fewer jobs. Boehner dismisses the report, because he is unable to refute it, and that report does not stand alone as Rachel Maddow reports and discusses with Cornell economist, Robert Frank.

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