Boehner: Good Jobs Data Due To Tax Cuts (Not Obama Stimulus) Economists at the non-partisan
Congressional Budget Office may
credit the economic stimulus enacted by President Obama and the previous Congress for boosting economic growth and jobs through the end of last year (and presumably into this year.)
But Speaker John Boehner and the House GOP won their majority in part by arguing that the stimulus was a bust.
Because congressional Republicans view federal spending as the economy's main threat and tax cuts as the real stimulation for economic growth, Boehner credited the December deal to extend the Bush tax cuts for February's positive jobs data.
The U.S. Labor Department reported that the economy produced 192,000 jobs in February with the jobless rate falling to 8.9 percent,
dropping below 9 percent for the first time since Spring 2009.
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Ezra Klein:
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But there are some dark clouds. The jobs report could’ve been better.
If not for the 30,000 jobs the public sector lost, we’d have created 222,000 jobs. So it’s worth worrying that the House GOP is pushing a spending bill that economist Mark Zandi
says will cost 700,000 jobs and Ben Bernanke says will cost “
a couple hundred thousand” jobs. Zandi’s estimate is high enough to wipe out this jobs report and a few more like it.
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Boehner: If Jobs Are Lost As A Result Of GOP Spending Cuts 'So Be It' (mid February)
If House Republicans succeed in cutting tens of billions of dollars in discretionary spending over the next six months, some of the most immediate victims will be federal employees, many of whose jobs will be slashed as their agencies pare back.
At a press conference in the lobby of RNC headquarters Tuesday morning, House Speaker John Boehner (R-OH) shrugged this off as collateral damage.
"In the last two years, under President Obama, the federal government has added 200,000 new federal jobs," Boehner said. "If some of those jobs are lost so be it. We're broke."
Some of those employees will no doubt collect unemployment insurance, so the government's obligation to them won't disappear with their jobs.
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