Thursday, February 5, 2009

Obama Stimulus Harmful Says Congressional Budget Office in Latest Report

The Washington Times reported Thursday that 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.
This begs the question: Who in Washington is telling the American people the truth? Is it a novice with no executive experience or is it a group of experts in the Democrat-run Congressional Budget Office?

Read it.

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