The fallout against Republicans continues
Posted in the Minneapolis Forum
#1 Oct 18, 2013
Paul Krugman at The New York Times reminds the world that this Republican effect on the economy isn't just a one-time debacle:
its important to recognize that the economic damage from obstruction and extortion didnt start when the G.O.P. shut down the government. On the contrary, it has been an ongoing process, dating back to the Republican takeover of the House in 2010. And the damage is large: Unemployment in America would be far lower than it is if the House majority hadnt done so much to undermine recovery.
A useful starting point for assessing the damage done is a widely cited report by the consulting firm Macroeconomic Advisers, which estimated that crisis driven fiscal policy which has been the norm since 2010 has subtracted about 1 percent off the U.S. growth rate for the past three years. This implies cumulative economic losses the value of goods and services that America could and should have produced, but didnt of around $700 billion. The firm also estimated that unemployment is 1.4 percentage points higher than it would have been in the absence of political confrontation, enough to imply that the unemployment rate right now would be below 6 percent instead of above 7.
#3 Oct 18, 2013
You can always tell the posts from the tea party people because they literally make no sense at all.
#7 Oct 19, 2013
Plus they are usually deleted by Topix.
#8 Oct 20, 2013
The Republican's numbers are dropping like a rock.
#9 Oct 21, 2013
Like they used to say on WDGY: And the hits just keep on coming!
#10 Oct 22, 2013
Look at all the deleted post numbers in this thread. All from right wingers that can't play by the rules, of course.
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