RWNJ Conservative Views from Cincinnati

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

Rasmussen Reports released a poll yesterday showing that support for the pork-heavy stimulus package is continuing to fall.  The package has already passed $900 Billion and still has room to grow.

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Yeah yeah, I know “misspeak!”…  I just find this humorous (besides, as much as everyone made fun of Bush’s pronunciation of ‘nuclear’ the door is open anytime a pol makes any sort of mistake).  Seeing as how our population is around 300 million (including elderly, children, illegals, etc), everyone is losing their job twice a month on average.  I guess I should be happy I was only laid off twice in 16 months!

Regardless if this is a misspeak, ignorance, or exaggeration, this approx $1 trillion pork-filled package isn’t an instant cure.

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Posted under Economy