The crap sandwich that passed the House yesterday and is expected to pass the Senate today will have a negative effect on job creation and growth, according to the CEO of one of the largest bond investment firms. Not surprising to anyone who has taken an introductory course in economics -- which most Beltway media villagers apparently haven't -- when in a recession, and the private sector and consumers aren't spending, the last resort is the government. Thus, when the government cuts spending, money is taken out of the economy, jobs are lost, and consumers and the private sector still aren't spending.
As we've noted earlier, the hostage-taking tactics of the far right are being rewarded, and when you reward bad behavior, expect more bad behavior and hostage-taking down the road.
