The Republican Study Committee wants to ratchet austerity up well past the sequester

The Republican Study Committee wants to ratchet austerity up well past the sequester

"The fiscal drag resulting from the sequester relented a little in the past two years, as the result of a compromise reached between the House and Senate budget committees. But this compromise only rolled back sequester cuts for two years. For fiscal year 2016, the Congressional Budget Office estimates that not extending this compromise and instead returning to 2011 BCA spending targets could cost as many as 800,000 jobs as these cuts drag on aggregate demand.

One would think that loosening this coming fiscal drag would be a high priority for policymakers. Instead, the Republican Study Committee (RSC), a bloc of conservatives in Congress, has made replaying the 2011 debt ceiling crisis a top priority."