Want jobs? Get Congress to end sequestration.
Representative Chris Van Hollen (D-MD), the ranking Democrat on the House Budget Committee, requested an analysis of the costs of the sequester cuts – something I’ve been asking around for since they took place to no avail.
Guess what? The nonpartisan(CBO) reiterated their projections about the sequester slowing growth, and estimated that the Republican inflicted spending cuts would cost up to 1.6 million jobs if left in place through fiscal 2014.
The CBO determined that canceling sequester cuts would create between 300,000 (.3 million) to 1.6 million new jobs. Gee, we’ll take it! Sounds pretty good to us.
On August 1, 2011, Paul Ryan went on Fox News to crow that he finally got his way when sequestration was put into place via the 2011 congressional debt ceiling deal. Yes, that’s right. We got there because House Republicans were holding the economy hostage over raising the debt ceiling because they didn’t want to pay for the things they’d already bought.
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