Moody's Zandi on Economic Impact of U.S. Budget Cuts

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March 2 (Bloomberg) -- Mark Zandi, chief economist at Moody's Analytics Inc., talks about the $61 billion federal budget-cutting plan from congressional Republicans and its potential impact on the U.S. economy. Zandi said the economy is still too weak for the Republican plan. He predicted it would cut economic growth by 0.5 percentage points this year and an additional 0.2 percentage points next year, which he said would mean 700,000 fewer jobs in the U.S. by the end of 2012. Zandi, speaking with Margaret Brennan on Bloomberg Television's "InBusiness," also discusses the potential impact of higher oil prices and a possible government shutdown on the economy. (Source: Bloomberg)


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