The CBO Weighs in on How to Stimulate the Economy

The Congressional Budget Office just released its report on the fiscal policy choices presented to the Congress. It’s not good news for the proponents of extending the Bush Tax Cuts. Projecting to 2020, the report states that under current law the federal deficit in ten years will be $700 Billion. Extending the Bush Tax Cuts however, would double the size of the federal deficit at $1.4 Trillion. So those so called fiscal conservatives are full of it, unless the term “fiscal conservative” really defines those who stand for a mindless redistribution of wealth to the top 1% of country (which I suspect to be the truth).

But what about jobs? What about stimulating the economy? The argument given by the corporate conservatives is that cutting taxes for the rich will stimulate economic growth and provide incentives to start hiring again. The CBO makes mincemeat out of that argument as well. It turns out that the least stimulative proposal on their list is…extending the Bush tax cuts. The most stimulative? Extending unemployment benefits—the very thing conservatives refuse to allow.

At what point will people finally admit that this really is class warfare?


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