Here is an article from The Economist focusing on proposed budget cuts. The article looks at non-defence discretionary spending as a percentage of Gross Domestic Product since 1962 and shows that, as a percentage of GDP, non-defence discretionary spending has not made government less affordable. The article criticizes lawmakers for focusing on this portion of the budget so vehemently while ignoring more responsible parts of the budget.
This article is important since it deconstructs some proposed budget cuts and exposes them as flimsy attempts rather than careful and substantial cuts. The article also shows lawmakers who claim themselves as "budget hawks" to be making false claims. As the article states, any person who has taken a look at the Congressional Budget Office's analysis of the future spending has learned it is the health spending will balloon and make up the most significant portion of the federal budget.
The article links to a Washington Post article where its stated Republicans will try to close the government if they do not get the budget cuts they want. Their proposed cuts are superficial yet Republicans threaten to close up the government which would hurt the economy.
This study shows that a close down of the government would result in a drag on the economy with it losing eight billion every week the government is closed. Of course, I would take anything Goldman Sach's comes up with a grain of salt, but the point remains, the behavior of Republicans proves that they do not have the health of America's economy in mind or are seriously misguided.
