As predicted by anyone who actually remembers who is responsible for the mess we’re in AND can count, the Republican party’s latest economic farce, the ‘Pledge to America’ is BAD economic policy.
The first of what I’m sure will be many nonpartisan scorings of their ‘plan’ was released yesterday by the Economic Policy Institute.
For all their talk about job creation, EPI’s analysis shows if the Republicans have their way, their plan would cost one million jobs.
One million jobs.
One million jobs.
One million jobs.
That seems about right…
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News from EPI: Boehner’s “job creation” plan would result in a loss of one million jobs nationwide
For Immediate Release: Thursday, September 23, 2010
A new Economic Policy Institute analysis of Republican House Minority Leader John Boehner’s recently-proposed two-step job creation plan finds that it would have a net job impact of one million fewer jobs nationwide. Boehner’s plan, which calls for a cut in non-security-related spending to fiscal year 2008 levels and a two-year freeze on all current tax rates, would drastically reduce the budgets of basic human needs and investment programs while extending the Bush tax cuts for the wealthy. At a cost of one million jobs, this plan would reduce the deficit by a negligible amount – less than 5.5% in 2011. If his proposed tax policies are made permanent, as he has advocated, it would significantly worsen the long-term budgetary outlook.
Source: Economic Policy Institute – http://www.epi.org/newsroom/press-entry/news_from_epi_boehners_job_creation_plan_would_result_in_a_loss_of_one_mill
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