GOP Budget Cuts Could Derail Recovery

Worth Clicking: Blasts from the past wound Romney

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February 28, 2011

GOP Budget Cuts Could Derail Recovery

Just after a Goldman Sachs report predicted that proposed House Republican budget cuts would hurt economic growth, a new Moody's report finds the same.

Key finding: "The House Republicans' proposal would reduce 2011 real GDP growth by 0.5% and 2012 growth by 0.2 percentage points This would mean some 400,000 fewer jobs created by the end of 2011 and 700,000 fewer jobs by the end of 2012."

Furthermore, the report claims "a government shutdown lasting longer than a couple of weeks would do much more damage to the economy."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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February 28, 2011