Via Raw Story:
Democratic Rep. Jerrold Nadler of New York took aim at the conventional wisdom on Sunday morning, saying the government was cutting the federal deficit too quickly.
His comments came during a MSNBC panel discussion about President Barack Obama’s budget plan.
“If you look at the deficit, we brought it down in three years from 10.1 percent of GDP to 7.1 percent of GDP — this year it will be about five and a half,” he explained in the latter half of the segment. “That’s the largest deficit reduction — fastest — since the demobilization after World War II. It is too fast. It is having an inhibiting effect on economic growth and employment.”
Nadler said the deficit should only be addressed once the country had solved its unemployment problem.
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