Republican Senate Candidates Running Scared, Won’t Defend Job-Killing Republican Plan
Senate Republicans rolled out a so-called “jobs plan” last week that would actually cost jobs. That’s right. The Republican attempt to repackage the Tea Party agenda is drawing some ugly reviews from economists who have taken a look at their proposals. Just ask the experts.
Instead of doing much to get the economy moving again, the plan could actually do more harm than good by costing American jobs. No wonder Senate Republican candidates haven’t said a word about the plan – even they realize that these are bad ideas that don’t deserve consideration.
- Moody’s Economist: The Senate GOP Jobs Plan Would Hurt the Economy. Gus Faucher, director of macroeconomics at Moody’s Analytics, states that “in the short term, demand is weak, businesses aren’t hiring, and consumers aren’t spending. That’s the cause of the current weakness — and Republican Senate proposals aren’t going to address that in the short term. In fact, they could be harmful in the short run, if the focus is on cutting spending.” [Washington Post, 10/14/11]
- Chairman of Macroeconomic Advisors: Proposals Would Have Little Effect. Joel Prakken, chairman of Macroeconomic Advisors, examined GOP’s claim that rolling back regulations and cutting spending would create jobs and concluded that the proposals “would have little immediate effect relative to a plan that stimulates aggregate demand.” [New York Times, 10/6/11]
- Moody’s and Former McCain Economist Mark Zandi: Proposals Don’t Mean Much for the Economy. Mark Zandi, Chief Economist of Moody’s Analytics and former McCain presidential advisor, finds that Republican proposals don’t “mean much for the economy, though, in the near term, not certainly for the next 6, 12, 18 months. And I think that’s where I’m most concerned and focused.” [MSNBC Daily Rundown, 10/7/11; Wall Street Journal, 7/13/07]
“Economists say the so-called Republican jobs plan would actually hurt the economy. Maybe that is why Republicans Senate candidates are running scared and refusing to defend the extreme Tea Party economic plan and explain why economists are wrong,” said Matt Canter, spokesman for the Democratic Senatorial Campaign Committee. “If there was any question about whether or not Republicans were even remotely serious about working to get the economy back on track, this ‘jobs plan’ provides all the answers. The fact is that Senate Republicans decided to repackage their Tea Party agenda into a ‘plan’ that economists say could actually cost jobs, not create them, and that should send a disturbing message to voters about their party’s priorities.”
Previously, Republican candidates have pushed Tea Party economic policies that would hurt economic recovery instead of helping it. The Republican “Cut, Cap, and Balance” plan that was being touted earlier this year by virtually every candidate would also have a negative impact on the economy with the Center on Budget and Policy Priorities saying it could cost “roughly 700,000” jobs in the current economy. Despite the fact that this plan would have devastating consequences, Republicans have proudly supported this proposal.
In addition, it is not the first time that candidates have squirmed wildly to avoid defending or taking a position on Republican plans. For months, the likes of New Mexico’s Heather Wilson and Ohio’s Josh Mandel have avoided the GOP Medicare plan which dismantles Medicare in order to pay for more tax breaks for oil companies and multi millionaires.
July 2011: Republicans Support, Voted For Cut, Cap, and Kill Medicare Bill That Will Cause Loss of 700,000 Jobs. In July 2011, Heller voted for a radical Cut, Cap, and Kill Medicare budget plan. “Cut, Cap and Balance only raises the debt limit after the House and Senate pass a Balance Budget Amendment, cuts $111 billion in FY 2012, and places firm caps on future spending. According to the Center on Budget and Policy Priorities, “these cuts would equal 0.7 percent of the projected Gross Domestic Product in fiscal year 2012 and would thus cause the loss of roughly 700,000 jobs in the current weak economy, relative to what the number of jobs otherwise would be.” Similarly, Scripps Howard News Service described the proposal as “both simplistic and economically destructive.” [Vote 116, 7/22/11; HR 2560, Vote 606, 7/19/11; Cut Cap Balance Act.com signers, accessed 7/19/2011; House Republican Study Committee Website, accessed 7/15/11; Center on Budget and Policy Priorities, 7/16/11; Scripps Howard News Service Editorial, 7/5/11]
May 2011: Republicans Voted for Budget That Ends Medicare. According to the Wall Street Journal, “The plan would essentially end Medicare, which now pays most of the health-care bills for 48 million elderly and disabled Americans, as a program that directly pays those bills.” [Wall Street Journal, 4/04/11; Senate Vote 77, 5/25/11; House Vote 277, 4/15/11]
Wilson Still Not Saying Whether She Supports the Ryan Plan. In July 2011, when asked about the Paul Ryan budget plan, Wilson “continued to sidestep the question, praising the Budget Committee chairman for his efforts while pointing out disagreements with portions of his blueprint.” She said, “It’s not my job to do Harry Reid’s job here. Harry Reid needs to present a budget in the United States Senate and stand up, or get out of the chair as the leader of the United States Senate.” On the debt ceiling, she “indicated she believes the consequences of default would be real but still backs “significant reforms” before raising the debt ceiling.” [Politico, 7/8/11]
Mandel Stayed Silent On Republican’s Medicare Budget. In May 2011, the Springfield News Sun reported “Mandel, a former city councilman, said he supports Senate Bill 5 but has not taken a position on Ryan’s Medicare plan.” [Springfield News Sun, 5/25/2011]