Congressional Budget Office: Obama Stifle-Us plan will do more harm than good

I predict Obama won't give a flying... firetruck:

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.

There is more going on here people than attempting to revive an ailing economy... and the louder the doom and gloomers get, the more wary we should all become, especially of this crowd.

They're a lying, conniving, deceiving bunch.  History bears this out.

Call your senators and tell them to listen to the CBO.

Now. 

Comments

[Wayne]

I've linked and quoted your post as a what others are saying on Trillion dollar job creation would make a lot of people rich but will it create jobs

[Locutisprime]

What a great commentary. I read that yesterday and then read it to my wife last night. Charles absolutely nails the reality IMO.

[Locutisprime]

Don't do as I do, do as I say do. That ought to be the caption underneath the Obama banner of change.

The CBO is the number crunchers, They know sgite and shinola when they see it. But pay no attention to the great man behind the curtain. Just smile as he fist bumps his cronies into the cabinet then complains that republicans are not agreeing with his supposed vision of change.