After the House of Representatives voted through a continuing resolution, which kicks the budget showdown two weeks away, I asked Rep. Dave Schweikert, R-Ariz. for his response to the consensus, joined by Fed Chairman Ben Bernanke, that GOP spending cuts will cut at least a little from GDP. He interrupted me (politely!) when I mentioned Mark Zandi's estimate of 700,000 lost jobs.
"You need to plug in your calculator and just divide the dollars by that 700,000 jobs. You'll shake your head and say, 'Who drank the Kool Aid, there?' But the fact of the matter is, gas prices are going up, and that has an effect on GDP. If we're really focused on GDP growth, I'm looking forward to the president's proposal that we're going to start drilling using our own natural resources. If they're going to talk out both sides of their mouth, I'd at least like them to be consistent."