Peterson Pew Commission

Can Seven Reports Be Wrong About the Risks of Spending Cuts? GOP Says Yes

Could two independent economic reports, a liberal think tank and four bipartisan reports on debt reduction be wrong? They all conclude that slashing federal spending this year could cause job losses and threaten the economic recovery. The latest report, from Mark Zandi of Moody's Analytics, says 700,000 jobs could be lost by the end of 2012 if Republicans succeed in their quest to cut $60 billion from domestic programs this year. Cuts and tax increases are necessary to address the nation's long-term fiscal problems, Zandi said, but "cutting too deeply before the economy is in full expansion ...

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