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This post was edited by lars on 4/20/2012 at 4:59 PM
CBO estimates Obama 2013 budget will hit economic growth
The non-partisan Congressional Budget Office said Friday that President Obama’s 2013 budget will likely reduce growth in the long-term as larger deficits reduce capital available to businesses. After the next five years, CBO says the Obama proposals will likely reduce economic output by between 0.
thehill.com -
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lars said...
Between 2018 and 2022, the administration’s plan would cut growth by 0.5 percent to 2.2 percent, according to the analysis.
The U.S. government would run a large budget deficit that would require more borrowing, leaving fewer resources available for business investment and producing a drag on growth, the report said.
Larger deficits caused by the budget would cause the government to issue more bonds, sucking up private capital to finance its debts and thereby reducing the funds businesses could use to expand and hire, the CBO said.
The new CBO report complements a March estimate that Obama’s budget would add $3.5 trillion to deficits over 10 years compared to current law.
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lars said...
Between 2018 and 2022, the administration’s plan would cut growth by 0.5 percent to 2.2 percent, according to the analysis.
The U.S. government would run a large budget deficit that would require more borrowing, leaving fewer resources available for business investment and producing a drag on growth, the report said.
Larger deficits caused by the budget would cause the government to issue more bonds, sucking up private capital to finance its debts and thereby reducing the funds businesses could use to expand and hire, the CBO said.
The new CBO report complements a March estimate that Obama’s budget would add $3.5 trillion to deficits over 10 years compared to current law.
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TrapperGus
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lars said...
Between 2018 and 2022, the administration’s plan would cut growth by 0.5 percent to 2.2 percent, according to the analysis.
The U.S. government would run a large budget deficit that would require more borrowing, leaving fewer resources available for business investment and producing a drag on growth, the report said.
Larger deficits caused by the budget would cause the government to issue more bonds, sucking up private capital to finance its debts and thereby reducing the funds businesses could use to expand and hire, the CBO said.
The new CBO report complements a March estimate that Obama’s budget would add $3.5 trillion to deficits over 10 years compared to current law.
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TrapperGus
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Lurking on tRCMB since 1996
TrapperGus
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Daily Kos: States cut their way to ... increased unemployment
http://www.dailykos.com/story/2012/04/17/1084042/-States-cut-their-way-to-increased-nbsp-unemployment
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TrapperGus
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CBO says Obama's budget will be a drag on the economy