Congressional Budget Office: Obama stimulus will hurt the economy

[w¡n9Nµ7 §£@¥€r 123]

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.

http://www.washingtontimes.com/news/2009/f...over-long-haul/

[Peikko 1,575]

How exactly does a government 'do nothing'?

I am no fan of the stimulus package, I don't see the point of saying you can solve problems merely by incurring more debt. However, I do see that the US people want something for nothing, they want the US to be a society, but they don't want to pay taxes in order to create and maintain that society. No one wins.

I hope they do something about health care, education and infrastructure and I don't care what they call it.

[Otto 83]

Without bridge loans for (true) small business they may as well do nothing since a majority wont be around the next year much less the next 10...