CBO: Stimulus "a net drag on the economy"

Discussion in 'Politics' started by imbalance, Nov 22, 2011.

  1. imbalance
    Offline

    imbalance Silver Member

    Joined:
    Jun 30, 2011
    Messages:
    1,202
    Thanks Received:
    163
    Trophy Points:
    98
    Location:
    Miami
    Ratings:
    +163
    Well imagine that.

    CBO: Stimulus hurts economy in the long run - Washington Times
     
    • Thank You! Thank You! x 5
  2. Dragon
    Offline

    Dragon Senior Member

    Joined:
    Sep 16, 2011
    Messages:
    5,481
    Thanks Received:
    578
    Trophy Points:
    48
    Ratings:
    +579
    Assuming the CBO really said anything of the kind (and considering the source, that is far from certain), they just lost any credibility with any reputable reality-based economists with that statement. The idea that federal debt "crowds out" private investment -- ever -- has no basis in fact whatsoever. The only way it could POSSIBLY hurt private investment is by contributing to rising interest rates, which is obviously not the case at the moment, and even if it were, the phrase "crowds out" would still be inaccurate.

    Here's a key to why this may have happened: "The non-partisan agency also has changed its model for the spending’s impact on the economy."

    Well, isn't that interesting. The House changes hands, and suddenly, hey, presto! the CBO changes its model and comes out with a claim that the stimulus hurt the economy, and couches the statement in bogus right-wing economic doctrine with no basis in fact to boot.

    Nonpartisan my ass.
     
    Last edited: Nov 22, 2011
  3. OODA_Loop
    Offline

    OODA_Loop Account Terminated

    Joined:
    Aug 24, 2011
    Messages:
    6,953
    Thanks Received:
    468
    Trophy Points:
    83
    Ratings:
    +523
    yes no reputable economists can go against your emotional based wisdom

    they are not reality-based if they do
     
  4. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,541
    Thanks Received:
    8,776
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,775
    Shit, now we can expect a bunch of nonsensical diversionary topics.
     
  5. Dragon
    Offline

    Dragon Senior Member

    Joined:
    Sep 16, 2011
    Messages:
    5,481
    Thanks Received:
    578
    Trophy Points:
    48
    Ratings:
    +579
    I've forgotten more about economics than most posters on this forum, definitely including yourself, ever knew.

    There is no basis whatever for the claim that federal debt ever has, ever can, or ever will "crowd out" private investment, although IF it drives up interest rates that could increase the cost of capital and that might hurt investment. Except that interest rates are so low right now, obviously that isn't a problem.

    This is not fact based not because it goes against my "emotional based wisdom" but because it goes against, you know, the facts.
     
  6. Zander
    Online

    Zander Platinum Member

    Joined:
    Sep 10, 2009
    Messages:
    17,439
    Thanks Received:
    6,573
    Trophy Points:
    390
    Location:
    Los Angeles CA
    Ratings:
    +12,873
    Read it for yourself......
    Director's Blog » Blog Archive » Estimates of ARRA
    http://www.cbo.gov/ftpdocs/125xx/doc12564/11-22-ARRA.pdf
     
  7. francoHFW
    Online

    francoHFW Platinum Member

    Joined:
    Sep 5, 2011
    Messages:
    33,401
    Thanks Received:
    2,173
    Trophy Points:
    1,115
    Location:
    NY 26th FINALLY DEM!
    Ratings:
    +5,585
    Rev Moon, shove the BS! Hurting from 0.0 to 0.2% is nothing compared to Pub dysfunction and fear mongering, 2 to 5%...
     
    • Thank You! Thank You! x 1
  8. Grampa Murked U
    Offline

    Grampa Murked U Diamond Member

    Joined:
    Jun 13, 2011
    Messages:
    47,541
    Thanks Received:
    8,776
    Trophy Points:
    2,055
    Location:
    Kansas City
    Ratings:
    +23,775
    For you to make that assertion is ridiculous. Do you know any of these posters or their education level? NO

    You do know your own pompousity though dont you?

    lol
     
  9. Leweman
    Online

    Leweman Gold Member

    Joined:
    Aug 5, 2010
    Messages:
    4,009
    Thanks Received:
    489
    Trophy Points:
    130
    Ratings:
    +737
    ahhhhhhhhhhhhhhhhhhhhhhaaaaaaaaahahahahahahahahaaaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhhhhhhhhhhhhahahahahaha :lol::lol::lol::lol::lol::lol:
     
  10. CrusaderFrank
    Offline

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,170
    Thanks Received:
    14,904
    Trophy Points:
    2,210
    Ratings:
    +36,909
    [​IMG]

    "Ha, Barry! I tanked the US economy and made off with $1.2Billion maybe more!"
     
    Last edited: Nov 22, 2011

Share This Page