Are Republicans Trying to Hurt the Economy for Political Reasons? [View All]

[ProSense]

Robert Creamer

Are Republicans Trying to Hurt the Economy for Political Reasons?

Yesterday, ABC News leaked a confidential report from investment bank Goldman Sachs warning that the spending cuts proposed by the Republicans to take effect this year would slow the economy by 2 percent of Gross Domestic Product. It also found that even compromise cuts of $25 billion would cut growth by 1 percent.

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Right now, the government projects about a 2.7 percent rate of growth in the economy this year. So according to Goldman Sachs, if the Republicans have their way, most of that growth would be wiped out and we would be perilously close to a double-dip recession.

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You have to ask yourself, why would the Republicans propose a policy that even Wall Street thinks would be suicidal for the economy? Here are two options:

Reason 1: To Damage the Economy for Political Purposes

Mitch McConnell -- the Republican Senate Leader -- made it very clear at the end of last year that their major goal for this session of Congress is to defeat Barack Obama in 2012 and take over both Houses of Congress. And there is no question that the most important key to President Obama's reelection is an improving economy.

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Reason 2: Because the Inmates Have Taken Over the Asylum

A second reason that the Republicans are supporting these damaging policies is that the crazy relatives they used to try to keep out of sight have burst into the living room.

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