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Monday, February 09, 2009

CBO, American Public Don't Like Spending Bill

The CBO has said that the long-term health of the U.S. economy will worsen if the Democrat spending bill is passed. Without the bill, the CBO projects the recession to end in 2009. If the President doubts his own budget office, then why have the CBO at all? Or, if Obama would rather take the pulse of the American public, it appears that 50% of Americans also think that the bill will make things worse.

I also saw Jack Welch on Fox & Friends this morning, where he said that there is only a tiny amount in the bill that would do anything beneficial for the economy. Or listen to esteeemed Stanford economics professor John Taylor: "Massive responses with little explanation will probably make things worse."

I would like to find any businessman (outside of those likely to benefit directly from the pork projects) come forward and say this bill is a good thing. Anyone? Bueller??