CBO: Obama Budget Stifles Economic Growth
It’s almost like he wanted the economy to tank again… or is that still?
The nonpartisan Congressional Budget Office said Friday that President Obama’s 2013 budget will hurt the economy in the long term, arguing the larger deficits it would produce would reduce the amount of capital available to businesses.
After five years, the CBO says the Obama proposals would reduce economic output by between 0.5 percent and 2.2 percent.
Given that the CBO tends to use static analysis, it could actually turn out much worse if entrepreneurs decide they can’t make it in the Obama economy and either pull out or just don’t start their businesses at all, or if businesses decide to flee America and set up shop overseas.
Obama has just plain been bad for our national economy, and he needs to be removed from the Oval Office in January.