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CBO: President's "Stimulus" Hurts Long-Term Economic Growth

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Uploaded on Nov 15, 2011

WASHINGTON, November 15--In a Budget Committee hearing today, Congressional Budget Office Director Douglas Elmendorf admitted that his agency's long-term projections about President Obama's first stimulus bill show a negative long-term effect on economic growth.

As a centerpiece of his current economic agenda, the president is proposing a new, half-trillion dollar stimulus bill.

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