Steve Marmel This is what the GOP House has done to the country. 900,000 jobs... gone. And you know why - an ill-convieved attempt to make things horrible so Romney would win (#Fail) and now, well, spite. Are you working? Are you under-employed? Are you finding it difficult to get health care? You know who to thank. Or more accurately, blame. - Steve Marmel - - - From the fiscal cliff to sequestration to the current shutdown debt ceiling debate: Whats the cost of the U.S. government careening from crisis to crisis? About 900,000 jobs lost ... and the potential for another recession. Thats the conclusion of a new report prepared by research firm Macroeconomic Advisers for the Peter G. Peterson Foundation. The report examines the macroeconomic effects of the various political battles between Congress and the White House over the last few years. It concludes that the resulting fiscal drag, in combination with heightened fiscal uncertainty, has slowed the annualized rate of growth in the nations gross domestic product by as much as 1 percentage point since 2010. In addition, the report concludes that crisis-driven government and the resulting fiscal policy uncertainty has directly harmed the U.S. economy by increasing the unemployment rate by 0.6 percent, or the equivalent of 900,000 jobs.
Posted on: Tue, 15 Oct 2013 19:11:07 +0000
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