The Congressional Budget Office (a group that provides non-partisan aid on economic and budgetary considerations to the Congress) has said that the proposed stimulus package would actually be worse than taking no action at all. They estimate that by 2019 the legislation would reduce GDP by .1 to .3 percent. Their reasoning is that the large amount of debt incurred by this bill would reduce private investment even more than inaction would. They further went on to state that although the bill would create jobs, the effect would be miniscule by 2011.
Washington Times article is available here.
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Posted under Economy
Written by admin on February 6, 2009
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You’re nuts alright.
That was very eloquent. An independent organization says the bill is bad and that’s your debate?
Seems like gustav is the one that’s nuts to me. The CBO skews left more often than not and they don’t like this bill? That’s a very bad sign!