As the Republican Party keeps trying to find something new… anything at all… in their propaganda proclamation, running the numbers reveals that the implementing the Republicans’ proposals well cause economic damage and job losses that are both immediate and severe.
House Republicans’ gimmicky new “Pledge to America” repeatedly refers to itself — including on its cover page — as a “new governing agenda ” [GOP delinked] to “set a different course” for the country. Nonetheless, it has come under withering criticism from right, left, and center for being little more than regurgitated rhetoric and repackaged failed GOP ideas.
While Republican leaders have tried to sell the originality of the proposal, Rep. Mike Pence (R-IN) — the number three House Republican — couldn’t seem to decide whether his party’s Pledge was new or old yesterday during an appearance on Meet the Press. At first, he insisted that the Pledge does indeed have “new ideas.” But just moments later, after being pushed by host David Gregory, Pence admitted, “What we have in this proposal is not necessarily new“…
…Watch it:
As for new ideas, Pence’s citation of “ending bailouts and cutting spending” is pretty pathetic…
Inserted from <Think Progress>
Even with my very limited training in economics, I knew it would do harm, because tax cuts for the rich yield only fifty cents of economic activity for every dollar cut. But I has no idea just how bad, until I sat this Keith Olbermann interview with Heather McGhee.
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That’s right implementing this will result in a first year GDP loss of $171 billion and 1.1 million jobs.
Of course the rich will get richer.