Saturday, October 8, 2011
CBO: Obama jobs bill reduces budget deficit
The president's Job Bill will bring down unemployment, stimulate our economy and reduce the budget.
Continued GOP opposition clearly demonstrates their numero uno priority - reclaim power.
This bipartisan report will probably not persuade the GOP congressional leadership - Mitch McConnell, Eric Cantor and John Boehner - because their allegiance is with the super rich feudal lords - and not the American people.
The Congressional Budget Office on Friday confirmed that President Obama’s jobs bill would be fully paid for over ten years and also gave its seal of approval to Senate Democrats' version that includes a surtax on millionaires.
The CBO said that the original Obama stimulus bill would involve $447 billion in tax cuts and new spending—the same estimate given by the administration. It said the bill would raise $450 billion over ten years. The result is a $3 billion decrease in deficits over ten years.