Tip:
Highlight text to annotate it
X
Last month when you were testifying before the house budget committee you said the following
I’m quoting
“The very this very moment is not time to radically reduce our spending
or raise our taxes
because the economy is still in recovery mode and needs that support
now private economists seem to agree. Mark Zandy yesterday in his report said too much
cutting to soon would be counter-productive and would be taking an unnecessary chance
with recovery.”
Do you agree with those sentiments?
Yes, if I may add
small qualifications only that.. don't do that
only that um... thank you Senator only that it is important to be showing progress
and therefore I hope it will take a
long-term perspective and do things that will be persuasive to the marketed, overtime. Yes.
We are committed to.. I don't disagree with that caveat all. I mean that's a fair
caveat but in the short term we better be careful
not to snuff out this meson recovery.
By uhm... doing too much cutting in the words of Zandy that's correct in your opinion
Yes. Okay. uh... Do you also agree he said that
“Scott’s
significant cuts could what could cause job loss
those cuts would create job loss” I don’t mean overall job loss macro, but those cuts could you agree
with that?
The cuts would presumably lower overall demand in the economy would have some
affect on growth and employment.
Good, so the answer is yes? Yes.