Fiscal Responsibility

NYT Editorial: Republican-Supported Sequester Will Cost Jobs

We’re guessing Republicans didn’t enjoy reading today’s editorial in the New York Times, which offered them some harsh reality about the harmful effects to the economy if they left the sequester hit. It’s a pretty rough look in the mirror for Republicans:

“With the economy teetering on a knife edge, it is clear that this is the worst moment to initiate an indiscriminate budget cut. Government spending at this time can spell the difference between growth and shrinkage. But Republicans are willfully blind to this reality. Senator John Cornyn of Texas, the second-ranking Republican, called it a ‘Keynesian pipe dream’ last week, saying that only spending cuts will help the economy.

Congressional Republicans seem perfectly serene about allowing the sequester to take effect in a few weeks, so eager to prove they are budget cutters that they are willing to ignore the coming economic storm. ‘I think sequester’s going to happen,’ said Senator Tom Coburn, Republican of Oklahoma. ‘I think people want it to happen.’”                                                                                                                                                                                                           

“But it was never supposed to happen. The sequester was designed to be so dire that both parties would want to find a better way to reach a budget deal. The incentive for Republicans was the huge cut to defense spending, but an ideologically rigid generation of deficit hawks has shouted down the defense hawks, leaving Democrats with no negotiating partner. Republicans have repeatedly voted to replace the defense cuts with more domestic cuts, but the overall impact on the economy would be the same.

So Republicans are rooting for the sequester to hit, with no regard to the economy. Good luck explaining that to America.