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Thread: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemployment"

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    "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemployment"

    A new government report said spending cuts scheduled to go into effect in 2013, coupled with the simultaneous expiration of Bush-era tax cuts, will shrink the U.S. economy and raise unemployment -- contradicting the Republican claim that reducing the federal budget deficit will spur economic growth.

    The
    Congressional Budget Office report
    , released on Tuesday, estimated that the policies slated to kick in on Jan. 1 would slash the deficit and shrink the national economy by 1.3 percent during the first half of next year, likely throwing the country over a "
    fiscal cliff
    " into another recession.

    If left in place, the current policies would reduce the federal deficit by $607 billion, or 4 percent of gross domestic product, the report said. That reduction, from immediate tax increases or spending cuts, would "represent an added drag on the weak economic expansion," the CBO noted in its report."The resulting weakening of the economy will lower taxable incomes and raise unemployment, generating a reduction in tax revenues and an increase in spending on such items as unemployment insurance," the report said.



    Read more and Videos @: CBO Report Says Deficit Reduction Will Cause New Recession

    This reports is a direct rebuttal of everything congressional republicans have been spewing wince the beginning of Obama's presidency. Their need to "shock ans awe" us viea the media has been part of this corporate news cycle for 2 years now. Lets see if the corporate media will push this truth in the evening news?

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by TheDemSocialist View Post
    [/COLOR][/FONT]

    Read more and Videos @: CBO Report Says Deficit Reduction Will Cause New Recession

    This reports is a direct rebuttal of everything congressional republicans have been spewing wince the beginning of Obama's presidency. Their need to "shock ans awe" us viea the media has been part of this corporate news cycle for 2 years now. Lets see if the corporate media will push this truth in the evening news?

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    [/LEFT]
    You are talking about a jolt to the economy of about 3-4% of GDP. I don't know any rational person on either side who advocates this.

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by TheDemSocialist View Post
    [/COLOR][/FONT]

    Read more and Videos @: CBO Report Says Deficit Reduction Will Cause New Recession

    This reports is a direct rebuttal of everything congressional republicans have been spewing wince the beginning of Obama's presidency. Their need to "shock ans awe" us viea the media has been part of this corporate news cycle for 2 years now. Lets see if the corporate media will push this truth in the evening news?

    Thoughts?
    Comments?
    Response?
    [/LEFT]
    I saw this in the news. This kind of warning from the CBO is unprecedented and not to be taken lightly. Congress still has time to act before the end of the year. The question is, will they?
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Methinks the problem lies with the quality of spending, not the quantity. So much goes to so few and the remains go to those who contribute least.

    Of course cutting spending will shrink the economy. Is that what our economy is? Nothing to do with individuals, all provided by the government or the corporation?

    I feel like I live in a badly written post-apocalyptic novel.

    Quote Originally Posted by Catawba View Post
    I saw this in the news. This kind of warning from the CBO is unprecedented and not to be taken lightly. Congress still has time to act before the end of the year. The question is, will they?

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by specklebang View Post
    Methinks the problem lies with the quality of spending, not the quantity. So much goes to so few and the remains go to those who contribute least.

    Of course cutting spending will shrink the economy. Is that what our economy is? Nothing to do with individuals, all provided by the government or the corporation?

    I feel like I live in a badly written post-apocalyptic novel.
    Yes I agree, for the last 30 years our priority has been what benefits the wealthy few rather that what benefits the most citizens.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by specklebang View Post
    Methinks the problem lies with the quality of spending, not the quantity. So much goes to so few and the remains go to those who contribute least.

    Of course cutting spending will shrink the economy. Is that what our economy is? Nothing to do with individuals, all provided by the government or the corporation?

    I feel like I live in a badly written post-apocalyptic novel.
    some think that people exist merely to pay taxes.

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    warrior of the wetlands
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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by Catawba View Post
    Yes I agree, for the last 30 years our priority has been what benefits the wealthy few rather that what benefits the most citizens.

    most citizens are far better off in this country than the socialist paradises you crave. and winners tend to win in a competitive society-I realize you want to get rid of competition though

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by TurtleDude View Post
    most citizens are far better off in this country than the socialist paradises you crave. and winners tend to win in a competitive society-I realize you want to get rid of competition though
    Ever spent any time in any of those "socialist paradises" otherwise known as the remainder of the economically-developed world?
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by Somerville View Post
    Ever spent any time in any of those "socialist paradises" otherwise known as the remainder of the economically-developed world?
    Yeah Greece is doing great, France saw tons of people die in a heat wave. Feel free to move there. the sooner this country stamps out the creeping crud of socialism the better

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    Re: "Spending Cuts Coupled with Bush Tax Cuts Shrink US Economy and Raise Unemploymen

    Quote Originally Posted by TurtleDude View Post
    Yeah Greece is doing great, France saw tons of people die in a heat wave. Feel free to move there. the sooner this country stamps out the creeping crud of socialism the better


    I believe the question was: Ever spent any time in any of those "socialist paradises" otherwise known as the remainder of the economically-developed world? Are you able to answer that question without spewing forth rightie talking points?
    “And I have no doubt that every new example will succeed, as every past one has done, in shewing that religion & Govt will both exist in greater purity, the less they are mixed together.”
    ~ James Madison, letter to Edward Livingston, July 10, 1822

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