Congressional Budget Office (CBO) Director Douglas Elmendorf says that, according to CBO's estimates, with the stimulus legislation in place, "the level of GDP would be a little lower at the end. That is, a net negative effect on the growth of GDP over 10 years." Elmendorf then confirms that CBO estimates that the economic drag will continue in the following decade.
http://reason.com/blog/2011/11/17/cbo-on-the-stimulus
Thursday, November 17, 2011
Stimulus Legislation constitutes net drag on GDP over next ten years, CBO says
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