A Million Jobs at Stake With Sequester - NYTimes.comQuicklink submitted by Susan Lee Schwartz Permalink
|"...beginning at the end of this month, more than a million jobs will start to disappear because of a mindless government austerity program that no one in Washington seems able to stop...the effect of the coming sequester was already evident in last week's announcement that the economy actually contracted during the final quarter of 2012... With the economy teetering on a knife edge, it is clear that this is the worst moment to initiate an indiscriminate budget cut. Government spending at this time can spell the difference between growth and shrinkage. ..Republicans have repeatedly voted to replace the defense cuts with more domestic cuts, but the overall impact on the economy would be the same...The money could be raised by eliminating tax loopholes for energy companies, hedge fund managers and other high-end recipients of federal largess, but Republicans won't even consider the idea. "|
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