CBO: 'Stimulus' Plan Will Reduce Growth
11:04 AM, Feb 5, 2009 • By BRIAN FAUGHNAN
Can any Representative or Senator (or President) defend this plan? Congress's own budget office -- whose current Director was selected by Democrats, and whose former Director now heads up OMB for President Obama -- says that each of the 'stimulus' plans being debated in Congress would reduce economic growth over the next ten years. After increasing jobs and GDP slightly over the next three years, CBO notes the longer-term problems it creates:
If Congressional Democrats believe this finding is wrong, they ought to fire the staffers who prepared it, and never use CBO figures again. If Obama believes it's wrong, he ought to refute it. In either case, Democrats should not rush to pass a bill that -- on the best evidence available -- destroys jobs instead of creating them.