Feb 08 2009

Congressional Budget Office: No Need For Stimulus Package

Published by at 3:16 pm under All General Discussions

Well, well, well. It seems someone in DC has been keeping secrets from the American people. One has to guess that liberal law makers teamed up with the liberal media to promulgate the lie that we need to spend (actually borrow against future generations) $1 trillion to save the economy.

It is a lie, because the ‘catastrophe’ President “Chicken Little” Obama claims is coming if we don’t do anything actually is not real. At least according to the Congressional Budget Office:

CBO anticipates that the current recession, which started in December 2007, will last until the second half of 2009, making it the longest recession since World War II. (The longest such recessions otherwise, the 1973–1974 and 1981–1982 recessions, both lasted 16 months. If the current recession were to continue beyond midyear, it would last at least 19 months.) It could also be the deepest recession during the postwar period: By CBO’s estimates, economic output over the next two years will average 6.8 percent below its potential—that is, the level of output that would be produced if the economy’s resources were fully employed (see Figure 1). This ecession, however, may not result in the highest unemployment rate. That rate, in CBO’s forecast, rises to 9.2 percent by early 2010 (up from a low of 4.4 percent at the end of 2006) but is still below the 10.8 percent rate seen near the end of the 1981–1982 recession.

Apparently we don’t need the stimulus package at all. So I don’t need to trade $500 today in return for a debt of $3,000 tomorrow. Sounds good to me.

13 responses so far

13 Responses to “Congressional Budget Office: No Need For Stimulus Package”

  1. kathie says:

    So how de we email Snowe, Specter, and the other one to tell them to vote no Monday.

  2. Terrye says:

    They can say that this recession will be longer, but I remember the 70s and 80s. The average unemployment rate from the mid 70s to the mid 80s was about 8%. And for several years we had either double digit inflation or interest rates.

    The economy will come out of this without bankrupting the country.

  3. Terrye says:


    You can go to their official websites and email them. You can call or fax as well.

  4. sorkad says:

    Well, I guess this explains why hurry, hurry, hurry. We need this now so we can take credit for recovery and if we don’t hurry it will be too late! All with the help of the MSM, where are they on the CBO story???
    Here’s what I’ve been using to contact senators. All members can be found at http://www.senate.gov.




  5. momdear1 says:

    This is the first of many raids on the US treasury. Obama needs to know that he is on the spot. Is he going to govern like a president or an African dictator who stashes the country’s wealth, including foreign aid, in foreign bank accts in his and his flunkies’ names? If he blows it, he can forget all this multicultural togetherness. He will have tainted his race with his incompetence and dishonesty for the foreseeable future. He is supposed to be the best of the best. The shinning example to prove all races are equal. If he sucumbs to temptation and gives in to his supporters who already have tainted images, , he and his race can forget it. All the old stereotypes will have been proven true.

  6. owl says:

    Terrye, no one is answering the phones. None, no mailboxes, zip, nada the last 3 or 4 days. If anyone has another number, we need it.

    MSM is not pushing that little secret, nor the report. They could kill this horrible Obamanation if they only gave it equal to one day of Abu Graib. Even FOX would not shut up and let us hear the Senators on the floor. Only CSPAN.

  7. bobsunshine says:


    I guess what we may not realize is that the Dems will probably not lose. According to the CBO, the recession will last to the end of 2009 without the bill passing. Most of the monies in the Bill will effect the economy in 2010, 2011.

    However, the American people will see the recession ending and the Dems will point out that the Bill made it happen (when in fact, it had no effect). Business will see the government spending monies and want a piece of it, so the recession might end sooner.

    In 2010 and 2011 when the debt comes due and taxes go up, the Dems will say “we all have to pay for the recovery of last year (2009)”.

    My thoughts, but I would prepare for the Dems and Media saying they saved us when in fact they had nothing to do with it.

  8. Frogg says:

    If the CBO says the recession is expected to last “until the second half of 2009″…..then aren’t we talking about six more months….not a year?

    Six months?

    Then, why do we need to spend a trillion dollars that won’t do anything except make our economy worse in the long term?

  9. Frogg says:

    The Milton Friedman “smack down of socialism” video is making the rounds in the blogosphere:


    Be sure to watch it, it you haven’t seen it!!!!

  10. gwood says:

    Our saving grace is that Obama has thin skin, and like all liberals will govern like someone who favors love and adulation over respect, so our raised voices will have an impact. Obama found that he could talk without specifics but is learning that his actions are clear to all.

    His first weeks’ actions are angering many who voted for him and all who didn’t.

    I have called and e-mailed My Senator, Mark Warner, who also got votes from fiscal conservatives, and he knows it. This is an opportunity for some Democrat to step up and lead a mutiny from this trek toward socialism by the party in power. The huge un-popularity of this bill alone is creating a super-sized power vacuum within the party, here’s hoping someone will seize the moment.

  11. […] The CBO claims we will work our way through this recession before this bill’s pork even begins to role out of DC. We clearly don’t need this bill to avoid catastrophe – it IS a catastrophe. It is a lame attempt by the liberals in DC to appear like they are doing something useful. It is a naked power and money grab. […]

  12. MerlinOS2 says:

    Talk nice to the Blue Dog Caucus in the House to help us defeat the conference report bill when it goes back to the House

  13. MerlinOS2 says:

    It is kind of a well kept secret of the stimulus bill but the cash to run this thing will be coming out of the Social Security Trust Fund.