Obama’s Stimulus Will Cause 'Lower Wages' for American Workers, Says Congressional Budget Office
- Fred Lucas - CNSNews.com
- Feb 18, 2009
(CNSNews.com) – The huge economic stimulus package that President Obama signed into law Tuesday will result in “lower wages” for American workers, according to the Congressional Budget Office (CBO).
The CBO analysis, dated Feb. 11 and sent to Sen. Judd Gregg (R-N.H.), says the $787-billion plan will increase employment in the short-term, but will run up deficit spending which will “crowd out” private investment in the economy in the long-term.
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