The nonpartisan Congressional Budget Office (CBO) says Obama’s plan will hurt the economy in the long haul (like we didn’t already know that!).
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.
CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net.
So where is this story in the mainstream media?? This ought to be the big news of the day along with the jobs report. If there were a lick of integrity in the Democratic party or their willing accomplices in the ‘slobbering’ media, this would result in an immediate halt on the progress of the bill and a rework. But Obama’s continuing rush to push this bill through indicates VERY clearly that it is NOT about helping the economy, rather it is about helping the Democratic Party by aiding their worn-out liberal causes.