Sunday, February 8, 2009

The Stimulus Is Actually Anti-Stimulus; Congress Does Not Care

This is a quotation from the Washington Times: "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."

We can summarize thus: the members of congress have been warned that the stimulus package they are about to pass will harm the economy and their reply is, "What ever makes you think we even care?"

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