10. That means the President is right to be talking about jobs.
The President's been emphasizing job creation over deficit reduction recently, and that's the right way to go. In fact, it's the only way to go.
The sequester's still taking a sledgehammer to the economy. If Federal spending changes are taken out of the calculation, second quarter growth would have been 2.2 percent rather than 1.7 percent. We're shooting ourselves in the foot with spending cuts, even though the deficit's far smaller than we expected or believed.
And yet Republicans are still ignoring reality. They're trying to extend and even double down on the sequester's destructive spending cuts, despite the economic evidence -- and despite our crumbling infrastructure. It's time to invest in jobs, as well as roads, highways, bridges, and schools.
As Alan Krueger, Chairman of the President's Council of Economic Advisors, wrote today on the White House blog:
"The fact that declining federal spending continues to be a drag on economic growth is another reminder that now is not the time for Washington to impose self-inflicted wounds on the economy."
That message can't be repeated enough in the days and weeks to come.
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
