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

The Approaching Fiscal Armageddon

By John Hendrickson President Barack Obama recently proposed a new budget of…

Ransom By Any Other Name Is Still a Ransom Paid to Iran

State Department spokesperson John Kirby acknowledged that a $400 million settlement made with Iran was held until the release of four American citizens.

Can Democrats Save Entitlements And Healthcare?

Dr Jane Orient: It is not possible to save entitlements or medical care if the economic and social fabric of the country is destroyed by identity politics, class warfare, mob rule, and the shredding of constitutional protections for life, liberty, and property.

Pediatricians: SCOTUS Ruling on Marriage Marks Tragic Day for Children

The American College of Pediatricians said the Supreme Court’s ruling favoring same-sex marriage did not best reflect the needs of children.