April 5, 2013
Although many economists this morning blamed the expiration of the payroll tax cut as a reason for unexpectedly poor employment numbers, the White House decided to blame the bad report on sequestration.
“It is important to bear in mind that the March household and payroll surveys are the first monthly surveys to look at employment since the beginning of sequestration,” White House Council of Economic Advisers Chairman Alan B. Krueger explained in a statement this morning. “While the recovery was gaining traction before sequestration took effect, these arbitrary and unnecessary cuts to government services will be a headwind in the months to come, and will cut key investments in the Nation’s future competitiveness.”
This article was posted: Friday, April 5, 2013 at 10:28 am