Romney’s Budget Plan Could Kill Millions Of Jobs Over The Next Two Years

By Travis Waldron/Think Progress

The budget and tax proposals put forth by Republican presidential nominee Mitt Romney would not lead to the economic prosperity and job growth he has claimed, according to a new study released this week. In fact, the Economic Policy Institute found that Romney’s plans would actually lead to a net loss of jobs over the first two years of his administration, and the losses could grow even larger if Romney were to stick to his promise of reaching a balanced budget.

EPI had to make assumptions about Romney’s plan because of its lack of specificity, but according to its analysis, Romney’s plan to lower taxes and cut spending would cause a net loss of 554,000 jobs over the next two years if Romney abandons his plan to pay for the massive tax cuts he has promised. But if he maintains his promise to balance the budget while also providing the huge tax cuts, his plan would “lead to employment losses of 608,000 in 2013 and roughly 1.3 million in 2014″:

The deep spending cuts Romney has promised are the primary reason for the job losses, EPI’s analysis found. If Romney does pay for the tax cuts, as he insists he will, the spending cuts would get even deeper and thus cause the loss of even more jobs. Another independent analysis, meanwhile, found that fully paying for Romney’s tax cuts would require raising taxes on the middle class.

Romney’s call for a Balanced Budget Amendment would cause even more problems. “Government spending cuts of this magnitude would constitute an economic shock even larger than the one inflicted by the bursting of the housing bubble—a shock that led to the worst recession since the Great Depression,” EPI wrote. But because that shock would be so large, EPI concluded that passage of such an amendment is “exceedingly unlikely” and it chose not to include it in the analysis.

Republican budget plan will kill Michigan's workforce development agency Michigan Works!

by: eclectablog/Blogging for Michigan/Eclectablog.com.

Michigan's workforce development agency, Michigan Works!, will close its doors if a Republican budget plan passed by the US House of Representatives this week is made into law.

Michigan Works would have to shut down under a budget passed by the U.S. House, though the Senate has not backed the spending cuts.

The statewide work force development agency, which serves some 3 million Michigan residents, is largely funded by the Workforce Investment Act.

House legislation would eliminate more than $3.6 billion in funding for that act after July 1, as well as rescind $175 million for the current year.

"It would kind of just pull the linchpin out of the middle and everything would collapse," said Doug Stites, CEO of Capital Area Michigan Works.

But, don't forget: jobs are the GOP's number one priority. Right after elminating a woman's right to an abortion, repealing the Affordable Care Act and dismantling as many of the progressive initiatives passed by Democrats over the past two years as possible. Also, too, the deficit. The monster deficit that they were largely responsible for creating.

But, right after all of those things, jobs is absolutely number one.

M.C.L Comment: If you're unemployed and you voted Republican last year you have no one to blame but yourself.

Florida court rules governor can kill high-speed rail line

By Reuters

TALLAHASSEE, Florida (Reuters) - About $2.4 billion in federal funds for a high-speed rail project in Florida will go elsewhere after the state's Republican governor rejected the deal out of hand, U.S. Transportation Secretary Ray LaHood said on Friday.

LaHood said the Obama administration was pulling the plug on the financing after speaking with Rick Scott, Florida's Tea Party-backed governor, Friday morning in a last-ditch attempt to win his approval.

The money, which many Floridians hoped would bring thousands of jobs to a state burdened with record-high unemployment, would now be spent in other parts of the country, LaHood said.

"I know that states across America are enthusiastic about receiving additional support to help bring America's high-speed rail network to life and deliver all its economic benefits to their citizens," LaHood said in a statement.

Under LaHood's offer, Washington would have paid for all but $300 million of the $2.7 billion high-speed line. The project was originally approved in late 2009 by former Governor Charlie Crist and by state lawmakers, who set aside funds to finance the state's share.

Scott rejected LaHood's offer at least three times, saying the state could not afford it and, if the line were built, taxpayers would be responsible for operating losses. The Tampa-Orlando line would be the first phase of a longer line to Miami at a cost of billions more.

"Put simply, the proposed high-speed rail line is far too uncertain and offers far too little long-term benefit for me to consider moving forward and ultimately putting taxpayers at risk during an already challenging fiscal climate," Scott had written in a February 16 letter to LaHood.

Two Florida state senators filed a lawsuit earlier this week, saying Scott overstepped his authority in rejecting the deal.

But Florida's Supreme Court tossed out the lawsuit on Friday, saying there were no grounds on which Scott could be compelled to accept federal money for a Tampa to Orlando route, the first leg of a larger network that would eventually stretch south to Miami.

"The governor is gratified that the court provided a clear and unanimous decision, he is now focused on moving forward with infrastructure projects that create long-term jobs and turn Florida's economy around," said Scott spokesman Brian Burgess.

Scott, meanwhile, announced plans to fully fund a $77 million shortfall for a Port of Miami dredging project to deepen the port so larger ships can enter it.

The port expansion project will ultimately bring 30,000 jobs to the state. Scott said.

"This is the type of infrastructure project that will pay permanent, long-term dividends, and provide a solid return on investment for Florida's taxpayers," Scott said.

In Killing Ohio’s High-Speed Rail Project, Kasich Eliminated Private-Sector Jobs He Promised To Create

By Tanya Somanader Rather than acknowledge the number of jobs created or kept afloat by Democratic policies like the Recovery Act, Republicans insist that Democrats have done nothing to help create private-sector jobs. Future House Speaker John Boehner (R-OH) has said, “Washington has kept the private sector in bust while manufacturing a boom for the public sector.”

Boehner’s bosom-buddy Gov. John Kasich (R-OH) beat a similar drum on the campaign trail. Touting his plan to help the private-sector “quickly help create jobs,” Kasich insisted he would help “improve the atmosphere in our state for real business development” by meeting “the needs of businesses to overcome” governmental “snafus.” But Kasich undermined his rhetoric by killing Ohio’s high-speed rail project. In doing so, he derailed many businesses’ economic development plans and effectively killed the private-sector jobs he promised to create, leaving one businessman to call his decision “unbelievable,” “mind-boggling,” and “naive”:

Locally, certain not to happen is construction of a $15 million facility planned for Columbus by US Railcar Co. The plant would have employed up to 200 when fully staffed, said Mike Pracht, president and chief executive officer of the Columbus-based railroad-car manufacturer.

“It’s unbelievable these states would send back $400 million and $800 million in free money,” Pracht said. “It’s mind-boggling.”

“The only thing I can compare it to is the interstate-highway program back in the ’60s. Where would Ohio be today if it opted out of the interstate highway system? To suggest passenger rail would be any different is naive.”

Pracht said that in addition to the jobs his company would have added, abandoning the rail plan negates millions of dollars in potential development that would have clustered around each rail station along the 258-mile route.

Pracht’s anger is legitimate. The Cleveland developer Forest City Enterprises was planning projects that would create $180 million of taxable property. Dayton, OH anticipated around $250 million worth of downtown development around the rail station and, in Columbus, OH, the rail line “was expected to spur business development” and “provide a link between Downtown and Port Columbus.” But, as Forest City’s spokesman put it, “Clearly, it won’t happen now. It’s a governmental decision.” A decision that has already cost Gov. Scott Walker (R-WI) private-sector jobs as well.

But Kasich is “unrelenting” in his mission to overtly rebuke his campaign promises. While acknowledging that the train would create private-sector jobs, Kasich’s spokesman Rob Nichols scoffed Kasich wasn’t going to build a train that “will cost taxpayers.” A curious excuse given the fact that Kasich is perfectly willing to spend taxpayer money to “pay for security improvements” at his own private residence. Because Kasich is choosing to be “the first Ohio governor in a generation” to live in his private residence rather than in the already secured governor’s mansion, Ohioans will now pay for “around-the clock security at the Kasich home” as well as at the official residence.

Decisions like these help to explain the seven point drop in his approval rating before he’s even taken office. But rather than rethink high-speed rail and his other poor economic policies, Kasich is committed to driving the state into further economic disaster. As Nichols said, “We had the debate. The train is dead. The matter is closed.

M.C.L Comment: It seems a lot of Ohio voters that got caught up in the hate the negro president syndrome are going to regret putting this piece of work in office.