Feb 8, 2009

Congressional Budget Office: Obama stimulus harmful

The nonpartisan Congressional Budget Office said Obama's economic recovery package will actually hurt the economy more in the long run.

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.

Barack Obama and Democrat lawmakers claim otherwise.

Obama has tried to bully and even mock his critics rather than answer them. In his “I won” attitude, he is determined to get the pork-laden bill passed no matter what.

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