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Thursday, October 15, 2009

Former CBO Chief Calls Obama Fiscal Policies 'Laughable'

Are you better off today than you were 10 months ago? How's that hope and change working for you?

From CNSNews.com:
A former Republican congressional budget chief called the Obama administration’s claims to fiscal responsibility "hypocritical" and "laughable," noting in particular the mounting unemployment numbers (9.8 percent nationwide) despite the $787-billion stimulus plan enacted in February that he said was poorly designed.

"The Obama Administration's claims of fiscal responsibility are both hypocritical .... [a]nd laughable," Douglas Holtz-Eakin, who served as director of the Congressional Budget Office (CBO) from 2003 through 2005, wrote in an Oct. 14 memo to Republican members of the House of Representatives.

Holtz-Eakin said in the memo that the hastily written stimulus bill enacted in February -- the American Recovery and Reinvestment Act of 2009 -- was "poorly designed" and that was "probably one of the reasons why we’ve lost 3 million private-sector jobs since it became law."
CNSNews.com - Former CBO Chief Calls Obama Administration Fiscal Policies ‘Laughable’

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