...according to economists, who share their forecasts with WaPo
(NEWSER) - We know the "what": The payroll tax cut is set to expire within days, meaning changes to jobless benefits and doctors who treat Medicare patients will kick in, and the average American will miss out on $40 a paycheck . The Washington Post explores the "what does it mean" side of things, discussing the consequences with economists. Should the policies be extended, about $140 billion would get pushed into the economy. In coming up with their calculations, economists have to make some assumptions about what Americans would do with that $140 billion, but the Post reports that growth would likely slow by 1% to 1.5%, and between 500,000 and 750,000 new jobs that would have been created won't be. More»
