Norman D. Dicks said "I think that 2 weeks is not enough time to reach an agreement on H.R. 1 with the other body, and I'm afraid we're going to be back here doing this again. We opposed H.R. 1 because we believe it would have the effect of slamming on the fiscal brakes too abruptly, resulting in higher unemployment and threatening our Nation's economic recovery. There is no dispute that cutting Federal spending too deeply and too quickly before the economy has fully recovered risks slowing growth and losing jobs. Moody's estimates that H.R. 1 would reduce real growth in 2011 by 0.5 percent, meaning 400,000 fewer jobs in 2011 and 700,000 fewer jobs by the end of 2012. The Economic Policy Institute projected job losses near 800,000." @ PoliticalQuotes.com

On the recordMarch 1, 2011

I think that 2 weeks is not enough time to reach an agreement on H.R. 1 with the other body, and I'm afraid we're going to be back here doing this again. We opposed H.R. 1 because we believe it would have the effect of slamming on the fiscal brakes too abruptly, resulting in higher unemployment and threatening our Nation's economic recovery. There is no dispute that cutting Federal spending too deeply and too quickly before the economy has fully recovered risks slowing growth and losing jobs. Moody's estimates that H.R. 1 would reduce real growth in 2011 by 0.5 percent, meaning 400,000 fewer jobs in 2011 and 700,000 fewer jobs by the end of 2012. The Economic Policy Institute projected job losses near 800,000.

Said by

Norman D. Dicks

Source

govinfo.gov

Editor's note · Context

The speaker addresses concerns about a short-term continuing resolution and its implications for government spending and employment.

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