Chart: Debt deal subtracts 1.8 million jobs

Updated
 

President Obama just finished speaking in the Rose Garden, where he announced that Congress has agreed not to tank the American economy. The speech was something of a re-set for Mr. Obama. He signaled that he’ll push for the end of tax breaks for oil companies and the wealthy. Also, jobs:

[I]n the coming months I’ll continue also to fight for what the American people care most about: new jobs, higher wages, and faster economic growth. While Washington has been absorbed in this debate about deficits, people across the country are asking, What can we do to help the father looking for work? What are we going to do for the single mom who’s seen her hours cut back at the hospital? What are we going to do to make it easier for businesses to put up that “now hiring” sign?

Below, by way of Think Progress, an estimate from the Economic Policy Institute on the effect the new debt deal will have on jobs next year. In short, EPI says it will subtract 1.8 million of them.

Barack Obama

Chart: Debt deal subtracts 1.8 million jobs

Updated