March 27, 2015

Ted Cruz Is So Proud Of His Role In America’s Near-Default, He’s Touting It On Campaign Site

http://thinkprogress.org/economy/2015/03/24/3638080/ted-cruz-default-jobs/
"Cruz may want to claim this moment as part of his economic plan, but economists agree that this strategy hurt, not helped, the economy. A report from the Peterson Institute on International Economics found that the threat of default on American debt and other ways that Congress has governed crisis to crisis meant the loss of 750,000 jobs and sliced 1 percent off of GDP economic growth. The shutdown itself cost the economy an estimated $24 billion and 120,000 jobs in just two weeks. Another report found that uncertainty created by Congress’s manufactured crises over short-term spending bills, the fiscal cliff, and debt ceiling battles had already cost 900,000 jobs before the government shutdown."