Posted by: Boston Bravery | August 14, 2012

Ryan Budget Plan would cost 1.3 Million Jobs 2012 and 2.8 Millions Jobs in 2014

“Yet perhaps the most disturbing feature of Ryan’s budget is that, in the midst of a prolonged recession, it would cost the US economy millions of jobs. Ryan’s 2011 budget plan proposes what the Center for Budget and Policy Priorities calls ‘the most severe and wrenching budget cuts in US history—two-thirds of which would come from programs for people of low or moderate incomes’ (Medicaid, Pell grants, food stamps and low-income housing). According to the Economic Policy Institute, ‘the shock to aggregate demand from near-term spending cuts would result in roughly 1.3 million jobs lost in 2013 and 2.8 million jobs lost in 2014, or 4.1 million jobs through 2014.'”

— Ari Berman, The Nation

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