CBO: Stimulus hurts economy in the long run

The Congressional Budget Office on Tuesday downgraded its estimate of the benefits of President Obama’s 2009 stimulus package, saying it may have sustained as few as 700,000 jobs at its peak last year and that over the long run it will actually be a net drag on the economy.

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Posted in * Culture-Watch, * Economics, Politics, Credit Markets, Economy, Federal Reserve, Globalization, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, The Fiscal Stimulus Package of 2009, The National Deficit, The U.S. Government, The United States Currency (Dollar etc)