Be smart on how we cut budget, create jobs

It's time for logical, insightful and fact-based thinking regarding the national budget. A vocal group of people wants severe cuts to government spending. I agree that we should restrain government spending but let's be intelligent about it.

Independent analysis by Moody's indicates that if the Republican proposal for federal spending cuts were imposed ($61 billion in the current fiscal year) then 700,000 people would lose their jobs and the growth in the economy would be reduced by 0.5 percent.

Some say that a reduction in government jobs will be replaced by an expansion in private sector jobs, but there is no data to support that contention. The United Kingdom severely cut its budget in May and there has been no offsetting increase in private sector activity. Now they are in a bad recession. Germany has had a similar experience.

I'd like to see federal spending reduced, but it needs to be done in an intelligent and responsible way over time. Otherwise, the “cure” for high deficits will be worse than the disease.

Most Americans say that jobs (i.e. economic growth) should be job one. Yet, the Republicans insist that reducing government spending is job one and if government jobs are lost, as speaker John Boehner says, “So be it.”

Richard Greer

Cedar Rapids