Is the stimulus package good or bad?
I pose this simple question, because there is a very simple answer. I can sit here and list you all sorts of individual spending items, but with a tag price approaching 1 TRILLION dollars and a bill over 600 pages long it becomes virtually impossible to decipher.
So I present to you another piece of evidence, directly from the government.
Congressional Budget Office has released their estimate of the impact of what this bill will accomplish, link here at cbo.gov.
Below is a small piece of the information presented and deals with estimated revenues for the next 10 years.
Estimated Revenues in Billions starting from 2009 to 2019:
09) -76.5
10) -131.3
11) -14.5
12) 12.2
13) 8.1
14) 4.0
15) 0.6
16) -1.8
17) -3.5
18) -4.3
19) -4.8
Total for 10 years) -211.8 Billion dollars.
NET IMPACT ON THE DEFICIT:
815.8 Billion dollars
JOB CREATION ESTIMATE:
CBO Further estimates that this bill could create 1.2 to 3.6 million jobs. In the absolute best case scenario, it will cost roughly $227,500 per job! (819B/3.6M). An extremely poor rate of return given what the long term impact will be on the national economy.
There you have it folks. A government body has estimated that within 10 years our GDP will suffer and due to interest and the ineffective nature of this bill the debt will remain with us with virtually untouched.
In essence, the government is better off not doing anything, hard to believe perhaps, but such are the facts! Pass it on, people must know the simple truth.
So I present to you another piece of evidence, directly from the government.
Congressional Budget Office has released their estimate of the impact of what this bill will accomplish, link here at cbo.gov.
Below is a small piece of the information presented and deals with estimated revenues for the next 10 years.
Estimated Revenues in Billions starting from 2009 to 2019:
09) -76.5
10) -131.3
11) -14.5
12) 12.2
13) 8.1
14) 4.0
15) 0.6
16) -1.8
17) -3.5
18) -4.3
19) -4.8
Total for 10 years) -211.8 Billion dollars.
NET IMPACT ON THE DEFICIT:
815.8 Billion dollars
JOB CREATION ESTIMATE:
CBO Further estimates that this bill could create 1.2 to 3.6 million jobs. In the absolute best case scenario, it will cost roughly $227,500 per job! (819B/3.6M). An extremely poor rate of return given what the long term impact will be on the national economy.
There you have it folks. A government body has estimated that within 10 years our GDP will suffer and due to interest and the ineffective nature of this bill the debt will remain with us with virtually untouched.
In essence, the government is better off not doing anything, hard to believe perhaps, but such are the facts! Pass it on, people must know the simple truth.
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