According to the non-partisan Congressional Budget Office, the Washington Times 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.

CBO estimates that by 2019 the Senate legislation would reduce GDP by 0.1 percent to 0.3 percent on net. [The House bill] would have similar long-run effects, CBO said in a letter to Sen. Judd Gregg, New Hampshire Republican, who was tapped by Mr. Obama on Tuesday to be Commerce Secretary.

Hey change we can believe in!  It’s still not too late to call your Senator, even though Senator Harry Reid says he’s got the votes to pass it.

I think they should pass The Snuggie Stimulus that Mary Katherine Ham is promoting.  It makes as much sense as porkulus.

You May Also Like

Report: Federal Employees Have 99.47% Chance of Never Being Fired for Cause

The Americans for Limited Government Foundation released a report that found rampant abuse and inefficiency within the Federal government bureaucracy.

Governor Culver Gets An Education

My Governor, Chet Culver, gets an education when he incorrectly stated how…

The Gold Standard Prefers Main Street to Wall Street

By Ralph Benko The Wall Street Journal on May 7th, wrote a…

Do Your Patriotic Duty, Report Health Care Dissenters!

The White House is interested in those who don’t agree with the…