Boehner On Whether Letting The Payroll Tax Cut Expire Hurts The Economy: 'I'm Not An Economist' | ThinkProgress
http://thinkprogress.org/economy/2011/12/01/379915/boehner-not-an-economist
Later, Boehner came around to admit that an extension would help boost the economy. To help Boehner out, several actual economists have said that letting the cut expire would, in fact, hurt growth and destroy jobs. According to Macroeconomic Advisers, allowing it to lapse “would reduce GDP growth by 0.5 percent and cost the economy 400,000 jobs.” An analyst at Barclay’s estimated that letting the cut expire would knock 1.5 percent off of first quarter growth next year.