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Sic Semper Tyrannis

Thursday, February 05, 2009

You mean...borrowing a trillion dollars to satisfy an appetite for pork might be bad for the economy?

Say it ain't so!

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.
Hat tip The Other McCain.