CBO: Sequester will cost up to 1.6 mi...

CBO: Sequester will cost up to 1.6 million jobs

Posted in the Minneapolis Forum

Schmahl Defucker

Ashburn, VA

#1 Jul 25, 2013
If you're paying attention, you know the damage sequestration has caused, from kids kicked out of Head Start and Head start teachers losing their jobs to waitlists for Meals on Wheels to court delays and a weakened justice system. But once Congress fixed it so business travelers wouldn't face big delays in airports, there hasn't been a marquee item, a single huge number that would draw your eye even if you weren't facing a direct cut yourself. Now there is: 1.6 million.

The Congressional Budget Office says that keeping sequester cuts through 2014 would cost the economy as many as 1.6 million jobs. If Congress repeals sequestration, the economy could add between 300,000 and 1.6 million jobs, with around 900,000 being the most likely number. The CBO looked into this at the request of Rep. Chris Van Hollen, as Democrats prepare another push to fix this thing:

House appropriators are producing 12 annual bills with an overall spending level of $967 billion. That’s $91 billion less than the bill being worked on in the Senate, where Democrats are crafting bills under the assumption sequestration is stopped. The gulf between the chambers on spending could lead to a government shutdown Oct. 1.[...]

“This kind of information should be something that shakes people up a little bit and forces them to recognize the human toll,” Van Hollen said of the CBO report.

He noted he has tried seven times since the sequester began to get a vote on a replacement bill with farm subsidy cuts and tax increases.

But Republicans remain determined to keep the massive, indiscriminate cuts in place—even the ones they say they don't like—in order to avoid closing some corporate tax loopholes or taxing hedge fund billionaires a little more. Now, as the next big fight approaches, that determination comes with a big number representing the jobs that will be lost if Republicans keep getting their way.
Scooby Slew

Saint Paul, MN

#2 Jul 25, 2013
White House: Federal deficit dropping to $759 billion for 2013


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inShare.

Published: July 8, 2013 at 9:33 PM

WASHINGTON, July 8 (UPI)-- The federal deficit for 2013 will be about $759 billion, 22 percent lower than in President Obama's budget, the White House said Monday.

If the projection proves true, the deficit would amount to 4.7 percent of the nation's gross domestic product, down from the 6 percent of GDP the earlier figure of $973 billion would have represented, The Hill reported. It also would be the first sub-$1 trillion deficit since Obama took office in the midst of the worst recession in decades, the Washington publication said.

The White House report also reveals, however, the deficit for 2014 is now forecast to rise to $750 billion, up from $744 billion, and still be at $549 billion in 2023, up from $440 billion, under Obama's budget projections.

The Hill said $65 billion of the improvement for 2013 is credited to higher tax revenues and $149 billion is from reduced spending.

Read more: http://www.upi.com/Top_News/US/2013/07/08/Whi...
LIbEralS

Minneapolis, MN

#3 May 15, 2014
Despite the mass hysteria from the chattering classes and Goldman Sachs predicting 100,000 layoffs and the Congressional Budget Office predicting 1.5 million job losses, the bipartisan General Accounting Office (GAO) found that the only one parole officer in the Justice Department was cut.

http://www.gao.gov/assets/670/661444.pdf
redeemer

Saint Paul, MN

#4 May 15, 2014
LIbEralS wrote:
Despite the mass hysteria from the chattering classes and Goldman Sachs predicting 100,000 layoffs and the Congressional Budget Office predicting 1.5 million job losses, the bipartisan General Accounting Office (GAO) found that the only one parole officer in the Justice Department was cut.
http://www.gao.gov/assets/670/661444.pdf

President Obama and the Democrats did try and compromise with the party of NO,so I believe that both parties should take the blame for their mistake.
But when the republicans lead by senator Rapheal Cruz and senator Lee shut down our government and cost our national economy 24 billion in loss jobs and commerce,I have a problem with that Libby and we want our loss revenue BACK by the RNC am I clear? and we have ton have it,and this is no Drill or no welfare check for the GOPT.
LIbEralS

Minneapolis, MN

#5 May 15, 2014
redeemer wrote:
<quoted text>
President Obama and the Democrats did try and compromise with the party of NO,so I believe that both parties should take the blame for their mistake.
But when the republicans lead by senator Rapheal Cruz and senator Lee shut down our government and cost our national economy 24 billion in loss jobs and commerce,I have a problem with that Libby and we want our loss revenue BACK by the RNC am I clear? and we have ton have it,and this is no Drill or no welfare check for the GOPT.
You're in rare form today. Too funny!

Since: Sep 11

Rogers, MN

#6 May 15, 2014
LIbEralS wrote:
<quoted text>
You're in rare form today. Too funny!
Anything to deflect from the fact that unemployment, under Obama, is still in the 15% range.
redeemer

Saint Paul, MN

#7 May 15, 2014
cantmakeitup wrote:
<quoted text>
Anything to deflect from the fact that unemployment, under Obama, is still in the 15% range.
Oh Gosh not your goofy as again hahahaha LOL so not explain how the unemployment range is 15 % when it's only 6.5 percent according to the labor stats? come on Goofy give a shot of your spins and lies spamming nonsense?
ItsaFactJack

Minneapolis, MN

#8 May 15, 2014
redeemer wrote:
<quoted text>
Oh Gosh not your goofy as again hahahaha LOL so not explain how the unemployment range is 15 % when it's only 6.5 percent according to the labor stats? come on Goofy give a shot of your spins and lies spamming nonsense?
A full 1/3 of the population eligible to work is not in the labor force according to Obama's BLS. Debate that fact redumber.

Since: Sep 11

Rogers, MN

#9 May 15, 2014
redeemer wrote:
<quoted text>
Oh Gosh not your goofy as again hahahaha LOL so not explain how the unemployment range is 15 % when it's only 6.5 percent according to the labor stats? come on Goofy give a shot of your spins and lies spamming nonsense?
Try using that google thingy and look it up for yourself. I"m not your bloody clerk.
redeemer

Saint Paul, MN

#10 May 15, 2014
ItsaFactJack wrote:
<quoted text>
A full 1/3 of the population eligible to work is not in the labor force according to Obama's BLS. Debate that fact redumber.
You must be the Kool Aide kid,you wouldn't know a real fact if you ran into it,have you ever heard of retirement?
redeemer

Saint Paul, MN

#11 May 15, 2014
cantmakeitup wrote:
<quoted text>
Try using that google thingy and look it up for yourself. I"m not your bloody clerk.
You're the lying goofy idiot who made up this nonsense,every economist in the country agree that the national unemployment rate is 6.5 percent,but you in your dumbness have the nerve to make up such nonsense,you must really your Jollies off by making a fool out of your ignorant uninform base who would believe your lies,because their to lazy to read the facts,or to even know the science of economics and that include;s you and I don't have to do any homework to prove that you're a fool,you do a good job at that yourself.
And BTW your not capable or have the intellect to clerk for me,I wouldn't even trust you to clean the rest rooms , you would steal everything that's not bolted down ,liars are also thieves and can't be trusted.
LIbEralS

Minneapolis, MN

#12 May 16, 2014
redeemer wrote:
<quoted text> You must be the Kool Aide kid,you wouldn't know a real fact if you ran into it,have you ever heard of retirement?
Translation: I am unable to debate that fact.
redeemer

Saint Paul, MN

#13 May 16, 2014
LIbEralS wrote:
<quoted text>
Translation: I am unable to debate that fact.
Translation I am unable to support or endorse Canmakeitup foolish nonsense,and I would love to disagree with you,but your facts are right and ours are just lies to smear the President Obama and his progress and that's a fact!
LIbEralS

Minneapolis, MN

#14 May 16, 2014
redeemer wrote:
<quoted text>
Translation I am unable to support or endorse Canmakeitup foolish nonsense,and I would love to disagree with you,but your facts are right and ours are just lies to smear the President Obama and his progress and that's a fact!
Translation: I am unable to debate that fact.

Since: Sep 11

Rogers, MN

#15 May 16, 2014
redeemer wrote:
<quoted text>
You're the lying goofy idiot who made up this nonsense,every economist in the country agree that the national unemployment rate is 6.5 percent,but you in your dumbness have the nerve to make up such nonsense,you must really your Jollies off by making a fool out of your ignorant uninform base who would believe your lies,because their to lazy to read the facts,or to even know the science of economics and that include;s you and I don't have to do any homework to prove that you're a fool,you do a good job at that yourself.
And BTW your not capable or have the intellect to clerk for me,I wouldn't even trust you to clean the rest rooms , you would steal everything that's not bolted down ,liars are also thieves and can't be trusted.
Never let it be said I missed an opportunity to once again make you look the fool.
I was a little over in that the U 6 rate has dropped to around 12.5%, which is still unacceptable.

But I must say I am impressed that you found time to poll "every economist in the country".

http://economix.blogs.nytimes.com/2014/04/04/...
redeemer

Saint Paul, MN

#17 May 17, 2014
cantmakeitup wrote:
<quoted text>
Never let it be said I missed an opportunity to once again make you look the fool.
I was a little over in that the U 6 rate has dropped to around 12.5%, which is still unacceptable.
But I must say I am impressed that you found time to poll "every economist in the country".
http://economix.blogs.nytimes.com/2014/04/04/...
Is this best that you can do to attempt to validate your foolishness? some obscure reich wing underground cheap web page site,gosh uou always prove me to be a superior and right about you,you are really a fool and sheeple,I didn't see evenm read this u2,3,4, nonsense in any valid publication, not even in the new Murdock acqustion of the WSJ or the Investor daily or even any other reputable main stream publication,Gosh I feel so sorry for your husband or your Ex-husband I feel his pain and believe I wish that on no one friend or foe,.you really suck

Since: Sep 11

Rogers, MN

#18 May 17, 2014
redeemer wrote:
<quoted text> Is this best that you can do to attempt to validate your foolishness? some obscure reich wing underground cheap web page site,gosh uou always prove me to be a superior and right about you,you are really a fool and sheeple,I didn't see evenm read this u2,3,4, nonsense in any valid publication, not even in the new Murdock acqustion of the WSJ or the Investor daily or even any other reputable main stream publication,Gosh I feel so sorry for your husband or your Ex-husband I feel his pain and believe I wish that on no one friend or foe,.you really suck
If you don't even bother to look, you simply shall not see. And you shall remain ignorant.

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