Leading Economic Experts Available to Talk about Fiscal Cliff and Impact of 'Sequester' Budget Cuts
By Mel Fabrikant Saturday, February 23, 2013, 05:17 PM EST
-Jim Carr, Senior Policy Fellow at the Opportunity Agenda, former Sr. VP at Fannie Mae Foundation and Senate Budget Committee staff-member
-Alan Jenkins is Executive Director of The Opportunity Agenda. Key Points on The Fiscal Cliff, Budget Cuts, and The 'Housing-Jobs Cliff':
--The overwhelming impact on the housing market from the proposed cuts will be their ability to potentially trigger a recession and return the housing market back to a foreclosure nightmare
--We need continued public investment to stabilize the housing market, create jobs, and truly bring this recession to an end.
--The most recent GDP numbers show that domestic spending cuts show a clear contraction of the economy, and are proof that austerity will not work.
--A bad enough recession could create new problems for the banking system.
--If these cuts go through, the Fed's ability to intervene will be limited since its used just about all the tools it has. Its a senseless game of roulette with zero upside, and with the potential to imperil millions of homeowners on the financial edge.