Friday, February 06, 2009

Porkulus Maximus - CBO Says Bad Deal

From the Washington Times.

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.

Thus, Michelle Malkin's term for this bill 'The Generational Theft Act of 2009'. So true, so true.

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