The GOP majority in the House of Representatives is sticking to their guns…they are demanding big spending cuts or they will shut down the government….I normally like politicians that stick to their guns whether I agree with them or not ….but there are times in the life of a country that sticking to one’s guns could be more disastrous than compromise and the whole row over spending cuts could be one of those times when the country, especially a weak economy, may NOT benefit from stubbornly standing on owns beliefs….

This may well be one of those times…..a report issued by Goldman-Sachs (who is NOT one of Obama’s biggest supporters) that show something different than the picture painted by the GOP over spending cuts…..the GOP is pushing this myth that if we cut spending we will grow the economy……the HuffPost is reporting on the Goldman report:

A Goldman Sachs economist has warned that the $60 billion package of spending cuts proposed by the Republicans to counter President Obama’s proposal could slow economic growth.Goldman’s warning follows Treasury secretary Timothy Geithner’s recent claims that the Republican plan would cost jobs.

In the confidential report, obtained by ABC News, among other news outlets, Goldman Sachs economic forecaster Alec Phillips said the GOP plan could slow economic growth by up to 2 percent. Even a compromise deal, with $25 billion in cuts could slow growth by 1 percent.

In its latest spending plan, the White House predicted GDP growth of 2.7 percent this year.

(click on the links and read the reports for yourself)

And then there is the idea of a governmental shutdown and the Goldman report had this to say about it:

…….if budget wrangling between the Obama administration and the Republican-dominated House of Representatives led to a shutdown? That, according to Goldman, could cost $8 billion a week, the Financial Times reported.

It appears that the debate on spending cuts has NOTHING to do with growing this economy and definitely does NOT having anything to do with the promise of jobs…then why are we having this debate?  Is it the typical political game?  Where is this debate good for the economy and the country?

Nothing the GOP is doing is good for the working majority or what is best for the country…instead we get theater and not very good theater, at that…….by sticking to their guns they may be dooming the economy with the possibility of a double dip recession….something for thought!