Friday, March 1, 2013

'Sequester Costs 750,000 Jobs' From Those Who Gave Us the Four-Million-Job Stimulus

 The Director of the Congressional Budget Office, Douglas Elmendorf, testified on February 13 before Congress that 750,000 jobs would be lost in 2013  alone if Congress does not avoid the sequester cuts (source). To put that estimate in perspective: the economy gained 741,000 jobs between September and January 1. Per Elmendorf: The sequester cut, reported to be $85 billion in 2013, will set us back four months of job growth. I say, using the experience of the 2009 stimulus, that the 2013 sequester cuts will cost us zero jobs.

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1 comment:

  1. Keynes is discredited economist. Hahaha...hohoho. That's huge news! When will the rest of us hear this.