Tuesday, February 03, 2009


I've just skimmed through the Congressional Budget Office's report on the Stimulus bill and I have to admit I find it pretty underwhelming--the stimulus that is. Apparently, so do a few others.

It also occurs to me that the price tag frequently cited--usually in the neighborhood of $800-$900 billion dollars--probably overstates the scope of the bill, since this amount will be spread over three years. Here is the CBO statement:

Combining the spending and revenue effects summarized above, CBO estimates that enacting the Inouye-Baucus substitute for H.R. 1 would increase federal budget deficits by $233 billion over the remaining months of fiscal year 2009, by $461 billion in 2010, by $142 billion in 2011, and by $884 billion over the 2009-2019 period.

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