House GOP Lists $2.5 Trillion in Spending Cuts

[one...two...tree 2,762]

Is it the #1 goal of the GOP? Listening to them, it would appear that way. So I ask, how much will executing this plan reduce the unemployment rate? How many jobs will it create?

"Where are the jobs?"

As President Obama discusses the economy today and taps GE CEO Jeffrey Immelt to lead a new White House board (more on that below), the GOP-led House has spent its first two weeks in power focusing on other issues. On Wednesday, it voted to repeal the president's signature health-care law. On Thursday, it introduced legislation permanently barring taxpayer subsidies for abortion. And today comes the headline that House conservatives want an immediate cut of $100 billion in discretionary spending, a higher amount that GOP leaders have called for, as well as federal outlays to be reduced by $2.5 trillion over the next 10 years. So after spending months talking about how the Obama administration wasn't talking about jobs, House Republicans are, well, not talking directly about jobs. First impressions are everything in politics. And the House GOP's first impression has not been jobs.

*** What does the country want? House Republicans disagree with that assessment. "We're focused on spending and jobs," Boehner spokesman Michael Steel emails First Read. "ObamaCare destroys jobs -- that's why we need to repeal it and replace it with common-sense reforms that lower cost. We've also begun the fight to cut spending. In the very first days, we took the first step by cutting Congress' budget -- and there is plenty more to come." While Republicans argue that repealing health care is about jobs, it's a tough sell; just ask the White House when it tried to sell health care as a jobs/economy issue. By the way, per our new NBC/WSJ poll, here is what the public wants to hear Obama address in his State of the Union address on Tuesday: 34% said job creation and economic growth, 18% said deficit and government spending, 15% said bringing the country together, 10% said health care, 6% said public education, 6% said illegal immigration, and 4% said Afghanistan.

http://firstread.msn...irst-impression

[mawilson 2,133]

How many jobs will it create?

Who cares? Job creation is not the reason we need to cut spending.

[alienlovechild 75]

Is it the #1 goal of the GOP? Listening to them, it would appear that way. So I ask, how much will executing this plan reduce the unemployment rate? How many jobs will it create?

Wasting money on programs that aren't necessary is a good idea anytime and absolutely necessary when are the jam we're in with the government sucking up more resources with little to show for it.

The private sector will hire more people when the economy is more stable and not waiting for the next crazy idea of out of DC. We need to spend up our ability to adapt and not try to create make work jobs that can't survive without government handouts. Cutting off unemployment benefits after 2 and half years is a starter for getting people off their butts and realize that aren't going to make what they made pre-2008.

[Usui Takumi 1,562]

Wasting money on programs that aren't necessary is a good idea anytime and absolutely necessary when are the jam we're in with the government sucking up more resources with little to show for it.

The private sector will hire more people when the economy is more stable and not waiting for the next crazy idea of out of DC. We need to spend up our ability to adapt and not try to create make work jobs that can't survive without government handouts. Cutting off unemployment benefits after 2 and half years is a starter for getting people off their butts and realize that aren't going to make what they made pre-2008.

No one gets 2.5 years of unemployment.

[alienlovechild 75]

No one gets 2.5 years of unemployment.

Is it still only 99 weeks with Federal extensions?

[Usui Takumi 1,562]

Is it still only 99 weeks with Federal extensions?

Yeah, and thats only for some states. There are a few who have lower unemployment and they get something like 72 I believe. Also IMO this latest deal will likely be the last, meaning that the whole system will expire in 2012. So if your unemployed tomorrow, you'd likely get something around 52 weeks and if you lose your job in the 4th quarter of this year you'll get the standard 27.

Edited January 22, 2011 by Sousuke