Friday, February 13, 2009
Chattering Classes Will Be Short Changed
Via Washington Times
The Congressional Budget Office (CBO) which is mandated to provide Congress with objective and timely analysis to aid in economic and budgetary decisions reports that Obama's giant economic recovery bill will actually hurt Americans paycheck in the long term, even if the plans tax cuts adds $13 weekly to the average paycheck per week.
The CBO predicts that while the extra spending will boost the economy in the short term the new debt will crowd out private investment in the long term resulting in a lower GDP which will hurt workers wages.
Sen. Chuckie Schumer, D-NY took to the Senate floor on Tuesday to sneer at the public's contempt over the Trillion Dollar porky amendments saying that only the "chattering classes" worry about such trival matters.
While Congressional phone lines have lit up by the "chattering classes" this week with complaints from angry taxpayers, Schumer scoffed, "no one cares" subsequently 400,000 petitions were delivered to Congress by the "chattering classes" protesting the bloated pork-laden economic stimulus bill which the taxpayers are worried about but which Congress doesn't care that their constituents are angry.
More here by Michelle Malkin, from Jewish World Review