Thursday, January 29, 2009

Brick Wall.

One more quick read regarding the stimulus package that graphs not as a hockey stick. But as a stolid brick wall shooting straight up with no curve. Jim Manzi from The Corner has the breakdown on what's in the bill.

Let’s start with some basics about the stimulus bill (H.R. 1: the American Recovery and Reinvestment Act of 2009). According to my quick read (so all numbers here are subject to revision) of the Congressional Budget Office (CBO) analysis, the total estimated cost of the proposal is $816 billion over ten years. This is composed of $604 billion of extra spending, plus $212 billion of less money collected in taxes than had been planned. That’s a whole lot of money, even for the U.S. economy.

Read the rest.

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