Thursday, February 12, 2009

True Cost of the Stimulus: $3.27T

From the Heritage Foundation:

Rep. Paul Ryan (R-WI) asked the Congressional Budget Office to estimate the impact of permanently extending the 20 most popular provisions of the stimulus bill. What did the CBO find? As you can see from the table below, the true 10 year cost of the stimulus bill $2.527 trillion in in spending with another $744 billion cost in debt servicing. Total bill for the Generational Theft Act: $3.27 Trillion. (Emph. added.)

Go here for the article, including the table.

"Generational Theft Act" strikes me as the best description I've heard yet for this train wreck.

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