CBO: stimulus bill will reduce GDP over the next decade, do more harm than good

From Stephen Dinan of the Washington Times comes this:

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...

Other tags: stimulus plan

Thu, 02/05/2009 - 14:28 · · Importance: 17

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