[engrpat]

Even the CBO thinks this stinks.

[cookcounty]

But the Messiah knows better!!! Can’t you tell from the way the sun glints off his pectorals??? He’s Hollywood!! He’s Salvation!!

[The_Reader_David]

Egads! Maybe the CBO actually is non-partisan, but just happens to have an ideological center a little further left than most of us here at FR would prefer.

This is good. It will give cover to both our Senators and the Dhimmicrats in the ‘Gang of 14’ to stop it.

[Uncle Miltie]

The Liberal CBO is calling the Marxists excessive.

Never thought I’d see the day.

[GOPJ]

Obama needs to understand that congressional dems are rolling him - their going to spend all available money on THEIR pet projects leaving Obama powerless and broke for the next four years. And the spending won't help the current problem - which will get worse. Dem spending on pet projects will shore up individual dems - and destroy the country. Obama’s an idiot to cheer on his own ruin.

[GOPJ]

Obama needs to understand congressional dems are rolling him - they're going to spend all available money on THEIR pet projects leaving Obama powerless and broke for the next four years. And the spending won't help the current problem - which will get worse.

Dem spending on pet projects will shore up individual dems - and destroy the country. Obama’s an idiot to cheer on his own ruin.

[peace with honor]

gee, suprize, suprize

[damsel]

Not really:

http://cboblog.cbo.gov/?cat=15

Testimony on the Economy and Stimulus
Tuesday, January 27th, 2009 by Douglas Elmendorf

This morning I testified before the House Budget Committee on The State of the Economy and Issues in Developing an Effective Policy Response (click here for full text of my written testimony). My testimony discussed both the basis for CBO’s forecast (released earlier this month, click here for text) and reviewed the financial and nonfinancial developments that have occurred since that forecast was finalized. So far, the news has been generally consistent with the agency’s expectations– and does not alter the bleak outlook.

I touched on three key points this morning:

1. The economy is currently weathering a recession that started more than a year ago, and absent a change in fiscal policy, CBO projects that the shortfall in the nation’s output relative to potential levels will be the largest– in duration and depth– since the Depression of the 1930s.
2. Most economists agree that both significant fiscal stimulus and additional financial and monetary policy approaches are needed.
3. H.R. 1, the American Recovery and Reinvestment Act of 2009, would, in CBO’s judgment, provide a substantial boost to economic activity over the next several years relative to what would occur without the legislation. (For the CBO cost estimate of H.R. 1, click here)

As the possibility of another round of fiscal stimulus is debated, it is not a surprise that employment effects of stimulus have emerged as a key measuring stick. According to CBO’s estimates, with enactment of H.R. 1, the number of jobs would be between 0.8 million and 2.1 million higher at the end of this year, 1.2 million to 3.6 million higher at the end of next year, and 0.7 million to 2.1 million higher at the end of 2011 than under current law.

[rightupnorth]

Did anyone read the rest?

“The agency projected the Senate bill would produce between 1.4 percent and 4.1 percent higher growth in 2009 than if there was no action. For 2010, the plan would boost growth by 1.2 percent to 3.6 percent.

CBO did project the bill would create jobs, though by 2011 the effects would be minuscule.”

2.6% to 7.7% in the next two years in exchange for a .1-.3% hit in 10 years?

I’d take that.

Just sayin’