CBO: Obama stimulus harmful over long haul

Thursday, February 5. 2009

CBO: Obama stimulus harmful over long haul

The Washington Times' Stephen Dinan reports:

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.

Posted by Tom Elia in Economics at 14:18 | Comments (12) | Trackbacks (0)

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You'd be surprised, Tom, about the absolute failure of conservative sites to listen to opposing voices. Sad. But you tell me about your opinion. Are you against the stimulus? Yes or no? Will you take a share of responsibility (you, Tom Elia), if it does not pass?

#1 don on 2009-02-05 17:44 (Reply)

Don, welcome back. It's been a while since we had to consistently read the nonsense emanating from your keyboard.

I think there should be an economic stimulus, but that doesn't mean I have to swallow all of this crap.

How do you feel about the opinion of the CBO?

I'm sure you have an opinion about that...

#1.1 Tom Elia on 2009-02-05 18:02 (Reply)

Yeah I do!
All you Chicago people - you, Obama, Blago - what a pain you are. You're all bluff and fluff. Don't I love New England yankee values. Nevertheless, I do like Obama,lots. Let's go with his stimulus bill and see what happens. Guy like you, you'll get a tax break..the rest is like eating lima beans..you can do it, like yer mother said: it's good for ya..and the country. paychecks, Tom.

#1.1.1 Anonymous on 2009-02-05 19:19 (Reply)

You neglect to mention Rahmbo along with Obama, Blago, etc.

Please do not include me with that group; I do not wish to associate with such types.

And who gives a damn what I get from such a 'stimulus' bill.

Is it good for the country?

I'm guessing not so much...

#1.1.1.1 Tom Elia on 2009-02-05 19:44 (Reply)

'Kay, Tom. The shift of the political axis from Texas to Chicago - I know you live in both - ain't particularly helpful: choice between death and kiki. But Obama, my bet is, will get the stim passed, and it will help a lot. What a relief from the Bush conservative catastrophe. TTYL,

#1.1.1.1.1 Anonymous on 2009-02-05 19:58 (Reply)

Counting on Chicago Dems to do well by everyone is never a good bet...

Worse than just about any political bet is my guess...

#1.1.1.1.1.1 Tom Elia on 2009-02-05 20:10 (Reply)

Stand tall, Tom. I'm a regular reader who shares your concerns for this nation.

#1.1.2 OT Hill (Homepage) on 2009-02-05 20:49 (Reply)

At the very least, the Dems should put together a stimulus package that the CBO does not score as a net negative.

Given that the assumptions of the CBO analysis are static and favor, by and large, the Democrat tax-and-spend policies over the dynamic effects of the effects of spending cuts, it is likely that this package is even worse than the CBO scores it.

Also -- has it occurred to anyone that the U.S. govt is borrowing $$ from the Chinese govt to nationalize U.S. banks? This course of action can't possibly end well.

#2 David Rogers on 2009-02-06 10:19 (Reply)

Exactly,David ---

Compound that reality with comments by a Soros minion who advised international investors to withdraw market money and buy US businesses ....

What more proof do we need to realize that BHO is a better campaigner than he is a leader and decision-maker. How many more layers of advisors can this guy add to insulate himself from the real world -- much less from Pelosi, Reid and his Chicago "ways"???

#2.1 OT Hill (Homepage) on 2009-02-06 10:27 (Reply)

All good citizens are concerned for the future of our nation, Tom. Obama is now going to get the stim bill passed, and it is the right thing to do! A new day, and one aimed first at saving the jobs and savings that Bush and a generation of conservatives lost. A signal moment in our country's history..

#2.1.1 Anonymous on 2009-02-06 17:54 (Reply)

Yes, it is the conservatives fault -- everything in the last generation even!

Thank God for selfless folks like yourself -- where would we be without you morally superior beings?

I'm just lucky to be alive when you are...

#2.1.1.1 Tom Elia on 2009-02-06 18:04 (Reply)

I'm glad you're alive, too, Tom, despite your case of chronic (not yet terminal) sarcasm. TTYS,

#2.1.1.1.1 Anonymous on 2009-02-06 18:13 (Reply)

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