What's new
US Message Board - Political Discussion Forum

This is a sample guest message. Register a free account today to become a member! Once signed in, you'll be able to participate on this site by adding your own topics and posts, as well as connect with other members through your own private inbox!

Former CBO Director: You Can't Spend Your Way To Prosperity

boedicca

Uppity Water Nymph
Joined
Feb 12, 2007
Messages
56,433
Reaction score
19,019
Points
2,250
Location
The Land of Funk
Obamanomics ain't workin' for the private sector. The only thing it is benefiting is government growth. Even a former director of the CBO recognizes that increasing government spending doesn't create prosperity.

Real personal income for Americans - excluding government payouts such as Social Security - has fallen by 3.2 percent since President Obama took office in January 2009, according to the Commerce Department's Bureau of Economic Analysis.

For comparison, real personal income during the first 15 months in office for President George W. Bush, who inherited a milder recession from his predecessor, dropped 0.4 percent. Income excluding government payouts increased 12.7 percent during Mr. Bush's eight years in office.

"This is hardly surprising," said Douglas Holtz-Eakin, an economist and former director of the nonpartisan Congressional Budget Office. "Under President Obama, only federal spending is going up; jobs, business startups, and incomes are all down. It is proof that the government can't spend its way to prosperity." ...


Income falls 3.2% during Obama's term - Washington Times
 

USMB Server Goals

Total amount
$350.00
Goal
$350.00

Most reactions - Past 7 days

Forum List

Top