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

Posted Thu, Feb 5, 2009 at 1:28 pm  ·  short link
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...
Tags: 
washington times
stimulus plan
congressional budget office
stephen dinan

Comments

Fred Dawes (not verified)

Sun, 02/08/2009 - 17:27

betterdeadthanFred thank you for reading me millions do isn't that great! Freedom is never easy! Long live that people never say bad names.

Fred Dawes (not verified)

Thu, 02/05/2009 - 23:28

ONCE MORE This Government like Bush's government hate's Americans and hate's the ideals we once lived under, "Look people its all over the best thing you can do is live with people who will not murdered you. sad fact is if you will not fight as one people for your human and civil rights others will use you like little prison boys in the toilet. and face facts this so called nation is now in the hands of our enemies and that enemy can do anything he wants to do to you.

eh (not verified)

Fri, 02/06/2009 - 05:07

It'll suck a lot of capital out of the market (especially now when at least to some degree the 'flight to safety' into government debt is still happening), most of it going to projects that will not directly generate a lot of wealth in the future. Saw Obama yelling, err speaking, last nite in support; just cannot understand what people see in him.

Mary (not verified)

Fri, 02/06/2009 - 13:28

The bloom is off the rose on Obama....I think people are finally seeing that the Emperor has No Clothes!

Fred Dawes (not verified)

Fri, 02/06/2009 - 18:13

Mary obama can care less he thinks he is a emperor monkey.

Wayne (not verified)

Fri, 02/06/2009 - 20:26

I have linked to your post from Trillion dollar job creation would make a lot of people rich but will it create jobs [1]

Links:
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[1] www.jeremiahfilms.com/released/jobs/902061525

Fred Dawes (not verified)

Sat, 02/07/2009 - 12:50

thank you wayne

BetterdeadthanFred (not verified)

Sat, 02/07/2009 - 23:09

Fred? Your the kindest lunatic Ive ever had the displeasure of reading. Time for a vacation?

petty bourgeois (not verified)

Mon, 02/09/2009 - 15:01

Calling someone of color a monkey is despicable Fred. You're nothing more than a bitter, angry, racist old man. Please go away.