CBO says: More Harm Than Good

[BostonBull]

Heres an excerpt:

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.

http://www.washingtontimes.com/news/2009/feb/04/cbo-obama-stimulus-harmful-over-long-haul/

 

[BostonBull]

Obama is making friends everywhere. Where are all his cheerleaders saying this is false?

 

[easyphloem]

I can see if you were a billionaire venture capitalist how you would be scared out of your mind .....

but you are a tree guy, making real-life money, not millions in single deals.

If jobs aren't created or retained in the very near term (1-2 years), who knows how long it would take to drag ourselves out of a depression similar to the big one last century?

I don't pretend to know what the solution is to any of this, and any number of smart people have laid out contradictory diagnosis and cures.


Maybe the alternative to do nothing, hope for jobs to create themselves, is the best course to take.

I've always enjoyed burying my head in the sand when I am confused and scared.


SZ

 

[Chum]

boo yah.

 

[BostonBull]

The CBO hasn't come out and said that anyone elses idea is going to do more harm than good! only Barack/Palosi's idea!

 

[easyphloem]

*Yawn*




SZ

 

[Chum]

Really. Me too. Getting sleepy and I just woke up.

Got a tree to climb, best get ta work.

Be careful out there, there's teenagers watching porn on free cellphones while driving SUV's bought with stolen food stamps and registering dead black people for Obama's re-election.

 

[Jamin_Mayer]

I think a responsible stimulus package would be to look at every one's debt load and free it up. All but a mortgage. I know that would stimulate me!!!