Contractionary Policy Is Contractionary

Yes from a macro perspective there are somewhat worse cuts, and replacing cuts to programs benefiting poor people with tax increases on rich people would be better, but can we all just agree that all contractionary policy is contractionary.

Barack Obama warned at the first meeting of his second-term cabinet on Monday that the $85bn in forced spending cuts will mean difficult budget decisions in the weeks ahead and that unemployment will end up being higher than it needs to be.

The cuts will hurt the economy. Replacement cuts will hurt the economy. Contractionary policy is contractionary.

Does no one read my sucky blog?