According to today’s information from the non-partisan Congressional Budget Office (CBO), the net effect - over the next ten years - of the current so-called stimulus package would be to INCREASE the national deficit by a WHOPPING
$838 BILLIONSee the last figure in the last line of
this document.
Increasing our national deficit by $838 Billion is NO WAY to grow our economy!
PLEASE!
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Consider the following from the Heritage Foundation blog site:
ReplyDeleteTrue Cost of Stimulus: $3.27 Trillion
Posted February 12th, 2009 at 11.08am in Ongoing Priorities.
All of the major news outlets are reporting that the stimulus bill voted out of conference committee last night has a meager $789 billion price tag. This number is pure fantasy. No one believes that the increased funding for programs the left loves like Head Start, Medicaid, COBRA, and the Earned Income Tax Credit is in anyway temporary. No Congress under control of the left will ever cut funding for these programs. So what is the true cost of the stimulus if these spending increases are made permanent?
Rep. Paul Ryan (R-WI) asked the Congressional Budget Office to estimate the impact of permanently extending the 20 most popular provisions of the stimulus bill. What did the CBO find? As you can see from the table below, the true 10 year cost of the stimulus bill $2.527 trillion in in spending with another $744 billion cost in debt servicing. Total bill for the Generational Theft Act: $3.27 trillion.
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ReplyDeleteGood point. Thank you.
SBVOR