A TRILLION DOLLAR DISASTER… CBO Confirms Obama-Pelosi Stimulus Damages Economy in Long Run

Gateway Pundit

Worst. President. Ever.

The CBO confirmed today that the $787 billion Obama-Pelosi stimulus plan damages the economy in the long run. The Washington Times reported:

The Congressional Budget Office on Tuesday downgraded its estimate of the benefits of President Obama’s 2009 stimulus package, saying it may have sustained as few as 700,000 jobs at its peak last year and that over the long run it will actually be a net drag on the economy.

CBO said that while the Recovery Act boosted the economy in the short run, the extra debt that the stimulus piled up “crowds out” private investment and “will reduce output slightly in the long run — by between 0 and 0.2 percent after 2016.”

The analysis confirms what CBO predicted before the stimulus passed in February 2009, though the top-end decline of two tenths of a percent is actually deeper than the agency predicted back then.

Source:

2 thoughts on “A TRILLION DOLLAR DISASTER… CBO Confirms Obama-Pelosi Stimulus Damages Economy in Long Run

  1. THIS COUNTRY AND OUR ECONOMY WOULD HAVE BEEN BETTER OFF IF ALL THAT CASH WAS DIVIDED AND GIVEN TO EACH AMERICAN OVER 18 YRS OLD. THE ECONOMY WOULD HAVE JUMPED OVERNIGHT AND WE WOULD ALL STILL BE BETTER OFF NOW. INSTEAD, ANYONE WHO WAS BUDDIES WITH OBUMMA JUST GOT RICHER. SAME OLD CRAP- DEMS SAY ONE THING AND ACT THE OPPOSITE.

  2. The Indians said it best, Politicans speak with forked toung.

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