Posted by AzBlueMeanie:

This week will mark the end of two full months since Republicans assumed control of Congress. They have spent their time trying to repeal — but not replace — the Affordable Care Act, and waging a culture war against women and women's reproductive health. They have been proposing cuts in federal spending to federal programs they have been ideologically opposed to for years (like NPR and PBS). But they have not proposed a single bill to create any jobs in this country.

"Mr. Boehner, where are the jobs?"

The simple answer is, Republicans have no interest in creating jobs. It is becoming increasingly clear that Republicans are intent upon destroying what is left of the American economy and to turn this country into a Banana Republic controlled by a corporatocracy "of the über-rich plutocrats, by the über-rich plutocrats, and for the über-rich plutocrats." This is the danger of an aristocracy of great wealth that our Founding Fathers warned us would be a threat to the survival of our democratic Republic.

Experts agree. Report: GOP budget cuts would hit U.S. economy – Los Angeles Times:

The spending cuts approved by House Republicans would act as a drag on the economy, according to a Wall Street analysis that added new pressure to a raging political debate in Washington.

The report by the investment company Goldman Sachs said the cuts would reduce the growth in gross domestic product by up to 2 percentage points this year, essentially cutting in half the nation's projected economic growth for 2011.

The report, prepared for the company's clients, represents the first independent economic assessment of a congressional budget fight that could lead to a government shutdown as early as [this] week.

* * *

Democrats quickly seized on the report as a validation of their arguments against the Republican cuts.

"Just as the economy is beginning to pick up a little steam, the Republican budget would snuff out any chance of recovery," said Sen. Charles Schumer, D-N.Y.

* * *

The Goldman Sachs analysis said the cuts would reduce the country's economic growth by 1.5 to 2 percentage points for the year.

A smaller budget reduction of $25 billion, if approved as a compromise, would have a lesser effect, reducing GDP by 1 percentage point. The effects would fade over time, the report said.

"Fiscal drag is quickly emerging as a focus," the Goldman report said. The report said the spending cuts are "the most important near-term risk."

* * *

While politicians reacted quickly to the findings, the view among economists was mixed.

"It would be a meaningful hit to GDP this spring and summer," said Mark Zandi, chief economist at Moody's Analytics, who has advised Republicans and Democrats.

Zandi said he would prefer spending cuts next year, as the economy shows further improvement. "I just wouldn't do anything that would forestall that kind of job creation that we need," he said.

But Douglas Holtz-Eakin, a former director of the nonpartisan Congressional Budget Office who has advised Republicans, said the projections were excessive.

"It's way too high," he said. He estimated the drag on economic growth from the House-approved cuts at no more than 0.2 percentage point.

It's not just at the Congressional level, there are a slew of ideological Republican governors and Republican statehouses after November's election that are intent upon destroying the American economy at the state level as well. Arizona is but one example.

More fiscally responsible governors are asking the federal government not to short-circuit the fragile recovery. Govs to feds: Don't short-circuit recovery (Warning: AP analysis by Liz "Sprinkles" Sidoti):

Their states on the brink of financial catastrophe, governors pleaded Saturday for the divided federal government to avoid doing anything that would hamper the tenuous economic recovery back home.

Their message to Washington: prevent a government shutdown, abstain from spending cuts that dramatically will affect states and end even preliminary discussions about allowing states to declare bankruptcy. [Some congressional Republicans, conservative groups, and potential GOP presidential candidates such as former House Speaker Newt Gingrich and former Minnesota Gov. Tim Pawlenty have floated the idea.]

Ah, there it is. The Republican plan to use default and bankruptcy to liquidate public employee pension plans and to end any further pension obligations into the future. Republicans want to steal your retirement so that they do not have to raise taxes on the über-rich plutocrats. Liz "Sprinkles" Sidoti just gives this a passing mention.

by Craig McDermott, cross-posted from Random Musings As usual, all info gathered from online sources, mostly the website of the Arizona Legislature, and subject to change without notice.  Advertisement While there are more active committee agendas than last week, they're still short enough for both the Senate's and the House's work to be combined into … Read more

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Posted by AzBlueMeanie: I really resent the fact how extremists on the right today invoke a revisionist and fictitious false idol of Ronald Reagan as their justification for doing the most outrageous and most extreme things in his name. This false idol they worship (they may want to recheck the Second Commandment) is nothing at all like the complex … Read more