After nearly all the stimulus money has been spent, the Congressional Budget Office now admits it cost more than advertised, did less to boost growth and will hurt the economy in the long run.And I'm sure releasing it before a long holiday weekend was coincidental, too.
In its latest quarterly report on the economic effects of the Obama stimulus, the CBO sharply lowered its "worst case" scenario while trimming many of its upper-bound estimates for stimulus-fueled growth and employment.
One day you wash up on the beach, wet and naked. Another day you wash back out. In between, the scenery changes constantly.
Thursday, November 24, 2011
CBO Admits the Obvious
The CBO Quietly Downgrades Obama's $825 Bil Stimulus
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