Cutting Spending Means More, Not Fewer Jobs

The debate in the House of Representatives over spending cuts has left many observers utterly unraveled. Exhibit A: the President’s veto threat.

The core of the threat is that if he is presented a bill that cuts spending in ways or amounts he doesn’t like “while continuing to burden future generations with debt, the President will veto the bill.” On this basis, apparently the President would veto his own budget proposal. According to the President, his budget is full of painful spending cuts and heavily burdens future generations with rapidly mounting debt.

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