Think tank believes Boehner Republican pledge would mean a loss of one million jobs.

There is a caveat, that the Economic Policy Institute is considered a progressive think tank, but the EPI released a report last month that analytically breaks down Boehner's plan, and suggests 1M Americans will lose their jobs.

I think they're being - ahem - conservative on their number, and here's why:

Boehner's plan to cut back federal spending by 22% to 2008 levels, will actually create a similar cascading effect that the cut in credit to small businesses had in 2008.  Cutting out circulation of cash from the economy, especially when done so in a shock-style cutback, should end up with the same results every time.  You've permanently dislocated GDP, as opposed to gradually re-balance GDP between private and public.

But eh, maybe you have a huge cash reservoir and would love to see Depression 2.0 and long-term deflation?  I know rich people would LOVE deflation that would further create wealth by making their cash reserves and gold holdings more valuable.