• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Venango County Tea Party Patriots

A non-partisan, non-profit, non-member, association dedicated to educating the public and promoting the principles of fiscal responsibility, constitutionally limited government and free market economics, and all other lawful activities.

  • Home
  • Resources
    • Resources – National
    • Resources – Pennsylvania
    • Resources – Venango County
    • Election Voter Registration Resources for Churches
    • Voter Resources
    • Resources – Other Organizations
  • Voter Registration Tools
  • Events
  • Alerts
  • Get Email Alerts
  • Contact Us

Jane Richey / July 17, 2012

Automatic Budget Cuts Will Cost Economy 2 Million Jobs

Republicans and Democrats seized on a new report estimating that automatic budget cuts will cost the economy 2 million jobs to level election-year charges that underscored the deep political divide over how to avert the looming crisis.

Roughly five months until the across-the-board reductions kick in, the Aerospace Industries Association unveiled a new report Tuesday that warned of jobs losses, billions in losses to the economy and a blow to wages from the $1.2 trillion, 10-year cuts in defense and domestic programs. The trade group that represents manufacturers, New Hampshire’s two senators and the mayors of Phoenix and San Diego cited the report in arguing that it was imperative that Congress act before the November election to avoid the cuts.

But the chasm between the two parties remains. President Barack Obama and Democrats want tax increases on high wage earners to be part of any alternative to the cuts, known in Washington as sequestration. Republicans reject that idea, contending that it would be reckless to raise taxes as the economy struggles to recover and arguing that the president is shirking his duty as commander in chief.

“Ignoring the reality of the sequester, on top of the demands by the president and his party to hike taxes, will result in fewer jobs, higher taxes on small businesses and working families, and compromise the ability of the United States to defend itself at home and abroad. This sort of so-called leadership is unacceptable,” said a statement from the office of House Majority Leader Eric Cantor, R-Va.

Read more.

Share this:

  • Telegram
  • Facebook
  • Twitter
  • LinkedIn
  • Pocket
  • WhatsApp
  • Print
  • Email

Filed Under: Fiscal Responsibility, Politics Tagged With: Aerospace Industries Association, budget cuts, defense programs, Eric Cantor, tax inceases

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Recent Posts

  • 2 MARCHES To Consider
  • Update on Voter Fraud
  • Next Meeting – Sept. 24

Archives

Footer

Contact Us

Venango County Tea Party Patriots
155 Summit Drive
Franklin, PA 16323

Phone
814-671-7110

Email
jane@vctpp.org

Frequently Searched Terms

Agenda 21 Barack Obama Ben Bernanke budget climate change Congress Congressional Budget Office debt deficit Department of Energy Department of Health and Human Services economy environment Environmental Protection Agency EPA Federal Reserve fiscal cliff food stamps fracking gas prices global warming Government Accountability Office Governor Corbett green energy Internal Revenue Service IRS Keystone Pipeline marcellus shale Medicaid Medicare natural gas Obamacare President Obama recession regulations sequestration small businesses Social Security spending cuts stimulus taxes TEA Party unemployment United Nations voter ID

Facebook has been “fact-checking,” blocking and removing conservative posts. Follow us on Telegram.org for unedited access.

Click Here

Follow Us

Follow Us

Copyright © 2021 Venango County Tea Party Patriots · Web Design by OptimusMedia.com · Log in

loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.