Jim Carr : Forced spending cuts are now under way . Where will the jobs come from ? He says cuts will cause pain in poor countries ; economists say more than 700,000 jobs lost . The truth is that the reductions in spending that will take place over the next year will , at a minimum , have no positive impact on the economy . He says at the same time corporate rises up , widening gap between rich , poor . Carr : Cuts do n't address any debt crisis ; what 's needed is investment in job - building .
Jim Carr : Forced spending cuts are now under way . Where will the jobs come from ? He says cuts will cause pain in poor countries ; economists say more than 700,000 jobs lost . He says at the same time corporate rises up , widening gap between rich , poor . Carr : Cuts do n't address any debt crisis ; what 's needed is investment in job - building .