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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction -- Ignore unavailable to you. Want to Upgrade?

To: Sully- who wrote (69409)	2/10/2009 9:02:18 AM
From: Sully-	Read Replies (2) \| Respond to of 90947

CBO: Recession Will End in 2009 By Mark Noonan on stimulus package Blogs For Victory Even without the Obama-Pelosi-Reid Fire-Up-The-Printing-Presses-Lets-Bankrupt-the-World “stimulus” package - from Gateway Pundit: <<< The Congressional Budget Office predicted that the current economic recession will end in the second half of 2009 without the trillion dollar stimulus. From The Budget and Economic Outlook: Fiscal Years 2009 to 2019 (pdf): CBO anticipates that the current recession, which started in December 2007, will last until the second half of 2009, making it the longest recession since World War II. (The longest such recessions otherwise, the 1973–1974 and 1981–1982 recessions, both lasted 16 months. If the current recession were to continue beyond midyear, it would last at least 19 months.) It could also be the deepest recession during the postwar period: By CBO’s estimates, economic output over the next two years will average 6.8 percent below its potential—that is, the level of output that would be produced if the economy’s resources were fully employed (see Figure 1). This ecession, however, may not result in the highest unemployment rate. That rate, in CBO’s forecast, rises to 9.2 percent by early 2010 (up from a low of 4.4 percent at the end of 2006) but is still below the 10.8 percent rate seen near the end of the 1981–1982 recession. >>> (emphasis added) Truth be told, I doubt that - all else being equal, if we don’t pass Obama’s scam I believe we’ll emerge out of this recession in 2010. With Obama’s plan I see no end to the recession. Still if I’m right or CBO is right it is clear that Obama is wrong - all his talk of end-of-the-world gloom and doom is just so much political bovine feces. blogsforvictory.com