CBO to debt committee: Cutting now could hurt
September 13th, 2011
07:19 PM ET
3 years ago

CBO to debt committee: Cutting now could hurt

New York (CNNMoney) – Cutting spending and raising taxes now could put a drag on the economy.

That was the message Congressional Budget Office Director Douglas Elmendorf delivered Tuesday to the new congressional debt committee, which is in week two of its hurry-up assignment to propose ways to slash deficits.

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soundoff (10 Responses)
  1. manuel sanchez

    I don't understand why cutting hurts?

    September 13, 2011 07:34 pm at 7:34 pm |
  2. Rick McDaniel

    Sometimes you have to do the things that hurt, to get the pain over with, and move on.

    September 13, 2011 07:58 pm at 7:58 pm |
  3. Sandy

    Cutting is exactly what Republican governors have been doing in this climate and it is killing their states and the country with respect to unemployment rates. Republicans have no idea how to govern.

    September 13, 2011 08:05 pm at 8:05 pm |
  4. Indy

    So the CBO is saying what all the top economists and Obama have been saying and therefore Republicans will do the opposite so that there number one goal to get rid of the President is accomplished at the peril of the middle class.

    September 13, 2011 08:35 pm at 8:35 pm |
  5. maf

    Two parts to the deficit equation. . . combination of spending cuts and revenue. How to generate revenue?? You need to do SOME spending and raise SOME taxes. Cutting spending does not mean stop it entirely!!
    Money moving means the economy continues to move. If all you do is cut spending, absolutely the economy grinds to a halt.
    Can it be clearer??? Apparently not to the Party of NO. Where are the JOBS you campaigned on GObTP???

    September 13, 2011 10:10 pm at 10:10 pm |
  6. cindy

    and the party of no doesn't care......-eople remember filibustering obstruction and NO.If they had their way FEMA wouldn't have the fundimg mneeded to help people with the disasters we've had. 38 of these obsructionists voted against it. on the 2nd time. OBAMA-BIDEN 2012!!!!!

    September 13, 2011 10:49 pm at 10:49 pm |
  7. Ed

    Looks like same o same o why do we even have this stupid Committee everyone on there only cares about their party and you have an even number from both parties how stupid is that I forgot Obama put it together my bad.

    September 13, 2011 11:05 pm at 11:05 pm |
  8. CoJo

    aren't you all glad the republicans don't listen to the CBO (and the democrats for that matter). Makes one wonder why the CBO even exists.

    September 14, 2011 12:06 am at 12:06 am |
  9. Greg Johnson

    What else is new... No cuts this year, no cuts next year, yawn!

    September 14, 2011 01:00 am at 1:00 am |
  10. Marie MD

    The rich have millions and they have NOT created one single job. They can take a hit that the middle class can't.
    TAX THE FREAKIN' RICH!!!!!!!!! HELLO, ANYONE LISTENING OUT THERE?????

    September 14, 2011 06:24 am at 6:24 am |