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Thursday, November 17, 2011

CBO on the Stimulus: "A net negative effect on the growth of GDP over 10 years.

By Susan Duclos

The video below via Reason: "The quote that matters starts around 1:25."

SESSIONS: And in the next 10 years, since you’re carrying that debt and paying interest on it and the stimulus value is long since gone, it would be a continual negative of some effect?

ELMENDORF: Yes, it would represent a drag on the level of GDP beyond that, if no other actions were taken.

H/T Memeorandum.