Spending cuts would cost 200,000 jobs, Bernanke says

03/3/2011 | Reuters

Spending cuts backed by Republicans in Congress would eliminate 200,000 U.S. jobs over two years but probably wouldn't harm the economy, Federal Reserve Chairman Ben Bernanke says. The estimate puts Bernanke in conflict with Democrats who say the spending cuts would eliminate 700,000 jobs and with Republicans who argue that the deficit-reduction measures would create jobs.

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