Jim Carr : Forced spending cuts are now under way . As the Dow last week pierced the 14,000 level to flirt with an all-time high , fourth quarter GDP for 2012 was reported to have increased at an annual rate of a mere 0.1 % . Comment: He says cuts will cause pain in U.S. households ; economists say more than 700,000 jobs lost . He says at the same time corporate earnings 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 . Comment: He says cuts will cause pain in U.S. households ; economists say more than 700,000 jobs lost . He says at the same time corporate earnings up , widening gap between rich , poor . Carr : Cuts do n't address any debt crisis ; what 's needed is investment in job-building .