Question by Vesaversa1: Are the Republicans trying to hurt the economy for political reason ?
Yesterday, ABC News leaked a confidential report from investment bank Goldman Sachs warning that the spending cuts proposed by the Republicans to take effect this year would slow the economy by 2 percent of Gross Domestic Product. It also found that even compromise cuts of $ 25 billion would cut growth by 1 percent.
This report would not be surprising if it came from the progressive Economic Policy Institute (EPI) or even someone at the Brookings Institution. Instead it comes from Wall Street which is, after all the principal base of the GOP.
Of course, their conclusions are not surprising. Virtually everyone with an ounce of economic literacy understands that cutting federal spending right now , just as the economy is clawing its way out of the worst recession in 60 years will cost hundreds of thousands of jobs.According to Goldman Sachs, if the Republicans have their way, most of that growth would be wiped out and we would be perilously close to a double-dip recession.So isn’t it It’s time to stop treating proposals for immediate cuts in spending as “reasonable” policy alternatives?
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Answer by Sam
The word news should never follow abc !!
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