Debt Deal Could Cost 1.8 Million Jobs

The non-partisan Economic Policy Institute analysis shows the impact of the 10-year trillion dollar cuts.

 …even the near-term cuts could shrink already sluggish GDP growth by 0.3% in 2012. According to EPI, the plan “not only erodes funding for public investments and safety-net spending, but also misses an important opportunity to address the lack of jobs.” In particular, the immediate spending cuts and the “failure to continue two key supports to the economy (the payroll tax holiday and emergency unemployment benefits for the long term unemployed) could lead to roughly 1.8 million fewer jobs in 2012.”

By: Alan

Alan Colmes is the publisher of Liberaland.