Congressional Budget Office: Stimulus is $75 billion more expensive than thought

It turns out I've been wrong for calling the Democrats' $787 billion dollar stimulus an expensive failure. It turns out that it is an $862 billion expensive failure. Look for President Obama not to bring this fact up in toworrow's State of the Union address.

From the Senate Republican Communications Center:

CBO: Stimulus will "Increase deficits By $862 billion between 2009 And 2019." "Looking ahead, it appears that ARRA will have larger effects in later years than originally estimated. All told, CBO now anticipates that the law will increase deficits by $862 billion between 2009 and 2019 (see Table A-1)." ("The Budget And Economic Outlook: Fiscal Years 2010 To 2020,” The Congressional Budget Office, P.113, 1/10)

ORIGINAL ESTIMATE: Stimulus Will "Increase Federal Budget Deficits By…$787 Billion"

CBO: "CBO estimates that enacting the conference agreement for H.R. 1 would increase federal budget deficits by … $787 billion over the 2009-2019 period." "Combining both spending and revenue effects, CBO estimates that enacting the conference agreement for H.R. 1 would increase federal budget deficits by $185 billion over the remaining months of fiscal year 2009, by $399 billion in 2010, by $134 billion in 2011, and by $787 billion over the 2009-2019 period." (“H.R. 1 The American Recovery And Reinvestment Act Of 2009 Conference Agreement Cost Estimate,” The Congressional Budget Office, 2/13/09)

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