Oct 3rd, 2013 at 9:28 am by susie
Okay, Politico only said the first part. However it would have been useful to remind readers of the second part since some may not realize that in the current economic environment cutting the budget will hurt the economy.
In an economy that is near full employment, budget cuts can free up resources for the private sector. However in an economy that is operating at close to $1 trillion below its potential, with extraordinary low interest rates, it is implausible that cutting the budget would lead to increased investment or consumption by the private sector. Therefore the effect of the Republican proposals for cutting the budget would be slower growth and higher unemployment.
If it was being responsible, Politico would remind readers of this fact.