2011-02-24

U.S. economy is fried according to Goldman

I don't know what other conclusion can be reached if $61 billion in cuts will hammer GDP growth.

Goldman Sees Danger in US Budget Cuts
The Republican plan to slash government spending by $61bn in 2011 could reduce US economic growth by 1.5 to 2 percentage points in the second and third quarters of the year, a Goldman Sachs economist has warned.

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