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Ruger P345  
#1 Posted : Thursday, October 17, 2013 1:43:51 PM(UTC)
Ruger P345

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Source www. nbcnews. com/ business/budget-battles-bite-out-economy-will-be-billions-8C11409508

Government shutdown: Cost could be up to $24 billion

John W. Schoen, CNBC
October 17, 2013


If the goal of the government shutdown was to help taxpayers by curbing government spending and boosting the economy, supporters of the idea got it all wrong.

As the dust settles, economists are adding up the collateral damage. The results aren’t pretty:

•The loss of government services during the three-week shutdown will take a roughly $3.1 billion bite out of gross domestic product, according to economists at IHS Global Insight. That represents just the hit from lost government services.

•The shutdown also forced non-government business losses, temporary layoffs and other interruptions in business spending. The full extent of the damage won’t be known for some time. Economists at Standard & Poor’s estimate the total cost at about $24 billion, or a 0.6 percent GDP haircut. Others guess it's about half that. Either way, it's a heavy price to pay.

•Then there's the loss in U.S. economic prestige, which is also hard to gauge, but keeps getting whittled away every time Washington goes into gridlock over spending.

“The exact impact on the rest of the economy will be hard to measure until delayed economic data are released,” according to the research note by IHS economists Doug Handler and Paul Edelstein.

But they estimate the economy will grow at just a 1.6 percent annual rate in the last three months of the year – less than the 2.2 percent they had expected if the government had stayed open.

....




Read more at www. nbcnews. com/ business/budget-battles-bite-out-economy-will-be-billions-8C11409508






Billion of dollars wasted thanks to the GOP fanatics. The government spending is a component of GDP; therefore, if they cut down the government then they are also contracting the economy. These pea-brained fanatics don't have the slightest idea how the macroeconomy works. They cannot comprehend facts. In their universe, "facts" are handed down from on high such as Fox News (aka Faux News by Crooks and Liars). Freaking idiots!

Edited by user Friday, October 18, 2013 7:00:32 AM(UTC)  | Reason: Not specified

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Ruger P345  
#2 Posted : Friday, October 18, 2013 7:02:36 AM(UTC)
Ruger P345

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Source www. salon. com/ 2013/10/17/gop_is_crazy_and_awful_the_josh_barro_republicans_are_displeased/singleton/


Thursday, Oct 17, 2013 11:15 AM EDT

GOP is “crazy and awful”: The Josh Barro Republicans are displeased

As his party wallows in shame, a young, prominent GOPer tells Salon why it must lose much more in order to improve

By Josh Eidelson


Named “the Loneliest Republican” by the Atlantic, Business Insider politics editor Josh Barro is among the youngest, most prominent and caustic of the Republican writers who’ve raised alarms about the GOP approach to policy and politics on full display over the past two weeks. Barro spoke with Salon Wednesday about the congressional GOP (“crazy and awful”), conservative media (“if you don’t indulge the conservative bubble you’re going to lose the audience”), and how electoral disaster and business defections could change the party. What follows is an edited and condensed version of our conversation.

Before I ask you anything else, Josh: you get accused of being a RINO [Republican in name only]. Remind us of your Republican credentials.

I’ve been a Republican as long as I’ve been a voter. When I was in college, I worked on two Republican campaigns. I spent the summer interning for Grover Norquist. My policy research work before I got into the press was mostly on state and local finance, and I mostly aligned with Republican politicians. A major theme, particularly in the Northeast, is that governments are employing too many people and paying them too much. I voted for Joe Lhota in our Republican mayoral primary here in New York.

But at the federal level, the issue set is just different. The federal government doesn’t spend a tremendous amount of its money on payroll. Nor is there really a meaningful concept that the federal government should be run like a business, because the federal government basically just moves money around. In the last few years, the key questions have been ones where Democrats have tended to be right: It was not appropriate to have significant fiscal austerity in the last few years – that has slowed down the economy. Especially in the last few decades, as you’ve had these really unequal returns to economic growth, the federal government needs to play an important role both in supporting low and middle incomes and then also providing a safety net. Because the economy is more fragile than we thought it was.

This, I think, is a key lesson that I took out of the financial crisis and the aftermath of it. We really thought we’d sort of beaten the business cycle, and we wouldn’t have events that would cause years of sustained high unemployment. And so it was less important to have policies aimed at mitigating that. Now we know that in fact we are vulnerable to that sort of thing, and so we need to figure out first of all what do we do to reduce that probability, and then what do we do to make up for that problem when it happens. And Republicans have just been completely absent on both of those questions.

On reducing the vulnerability, they have basically sniped at Democratic proposals on improving bank regulation without offering substantive proposals of their own. Similarly, there hasn’t been an acknowledgment that when you have years of sustained high unemployment, you can’t just blame the unemployed and say those people are lazy, they don’t want to work.

So the last few years at the federal level, Republicans have just not been offering good solutions to the problems that we face. And then we’ve seen over the last month that because they don’t like the things the other side is doing, they start temper tantrums and do things that are very damaging to the economy. And so I don’t know why I should look at that and say anything other than these people are crazy and awful and shouldn’t be trusted with power.

...

I think there is an appetite among Republican voters for economic policies that address, in a market-based way, middle-class concerns about stagnant income and the rising cost of healthcare. The problem for Republicans is that there’s a tradeoff between doing that and cutting tax rates. If you want to give out big cuts in the top income rate, and the top capital gains rate, you don’t have room to make those kinds of family-friendly policies. So I think that’s an area where the party is likely to shift out of necessity in the next few years. I also think as Obamacare comes into effect, the party will make peace with it, as they’ve made peace with basically every other entitlement program.

...




Read more www. salon. com/ 2013/10/17/gop_is_crazy_and_awful_the_josh_barro_republicans_are_displeased/singleton/

Edited by user Friday, October 18, 2013 7:14:13 AM(UTC)  | Reason: Not specified

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Ruger P345  
#3 Posted : Friday, October 25, 2013 1:06:02 PM(UTC)
Ruger P345

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Reality check for close minded hard-core GOP teabaggers



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