Posted on 02/06/2009 7:05:39 AM PST by pabianice
President Obama's economic recovery package will actually hurt the economy more in the long run than if he were to do nothing, the nonpartisan Congressional Budget Office said Wednesday.
CBO, the official scorekeepers for legislation, said the House and Senate bills will help in the short term but result in so much government debt that within a few years they would crowd out private investment, actually leading to a lower Gross Domestic Product over the next 10 years than if the government had done nothing.
CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary.
(Excerpt) Read more at washingtontimes.com ...
President Clueless, strikes.
Oh.
President 9/10: "Like I care."
and the headline in the newspapers?
(no need to responde)
The CBO has never been friendly towards conservative/supply-side economic ideas. They always fall on the liberal/static/Keynesian economic side.
If the CBO says this won’t cause the economy to grow, but in fact slightly shrink, then you know the reality is going to be much WORSE than they predict.
How the heck can we be thinking of passing a stimulus plan that even the CBO says will shrink the economy?
Obama to CBO: “but...but....I WON!!!!”
Isnt this obvious to everyone? Not Washington or the MSM. Jumpstart what??
He has frightening eyes.
Unreal. This alone should sink the stink that is posing as a stimulus bill. But you will only hear about this report if you surf the net or listen to Conservative talk radio.
Every day is more disturbing than the next the way the mainstream press covers for the goon squad at the White House.
“He has frightening eyes.”
and/or has crackhead eyes.
Obama told the Dems last night that Bush doubled the national debt over the past eight years. Obama may do that in under four years at this rate.
There is a reason he fought so hard to keep his Blackberry. It is the only way he really has to keep in touch with his drug dealer.
Obama told the Dems last night that Bush doubled the national debt over the past eight years”
Can someone here at FR do the calculations, and remove the cost of the Iraq and Afghanistan wars, etc, out of the Bush expenditures over the past 8 years?
I would like to see that kind of comparison.
I think they are weighted down by the ears.
Obambi’s stimulus plan increases dead end government jobs that produce zero!!!
The problem most have concerning the socialists is they think they are clueless as to the affect their behaviour will have. But they are wrong, the leftists know and understand better then you or I the outcome of their actions. It is why they do it tio begain with, it allows them to seize even more power.
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