How Congress Can Create 900,000 Jobs With One Bill
Congress is on the August recess and when they get back the House is only scheduled to work 9 days.
But that’s still more than enough time for both houses to create nearly a million jobs by each just taking one vote. All they have to do is repeal the automatic budget cuts known as the sequester.
“[The Congressional Budget Office] estimates that canceling sequestration would increase the level of real GDP by $113 billion (0.7 percent) and generate 900,000 new jobs in the third quarter of calendar year 2014; a number akin to 40 percent of the total number of jobs created over the last twelve months,” writes the Economic Policy Institute’s Rebecca Thiess.
America’s budget deficit is already falling faster than it has in 60 years while there’s plenty of reason to believe the sequester is actually increasing the deficit, both by increasing inefficiencies and reducing economic growth.
Speaker John Boehner (R-OH) has asked to be judged on the laws his caucus has repealed. With one vote, his members can repeal a law that would give them an actual accomplishment to run on.