New CBO report debunks GOP stimulus talking points

New CBO report debunks GOP stimulus talking points
by Drdemocrat
Mon Feb 02, 2009 at 02:05:18 PM PST

The CBO just came out with a report about the Senate Stimulus plan and it shows that 78% of the $884 billion will be spent during the first 18 months.

http://cbo.gov/

http://cbo.gov/...

The Obama administration vowed that they wanted at least 75% of the money spent from a stimulus package should be spent within the first 18 months.

The House version of the bill was found by the CBO to spend out 64% of the money in the first 18 months. As a result, GOP put out the talking point that not enough of the stimulus package would be spent quickly enough.

Now the CBO has looked at the Senate version and they have found that $694 billion of the $884 billion will be spent out in the first 18 months after it is enacted. This results in 78% of the money being spent which is better than House version of the bill.

Expect this information to be a talking point by the administration over the next few weeks as the Senate debates the bill.
http://www.dailykos.com/storyonly/2009/2/2/17518/68664/333/684126

Well if Kos says it's so, it must be, such a reliable site afterall...

Do you even know who the CBO is? It's the Congressional Budget Office.

Quote :

CBO's mandate is to provide the Congress with:

* Objective, nonpartisan, and timely analyses to aid in economic and budgetary decisions on the wide array of programs covered by the federal budget and

* The information and estimates required for the Congressional budget process.