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Testifying before the Senate Budget Committee today, Congressional Budget Office director Douglas Elmendorf reiterated his initial assessment of President Obama’s $800 billion “stimulus” package — that while it may boost the country’s GDP in the short-term, in the long-term, the effect of such spending is a net negative on GDP growth. Here is Elmendorf responding to questions from Sen. Jeff Sessions… Broadcasting platform : YouTube Source : The Corner Discovery Date : 15/11/2011 18:28 Number of articles : 2

CBO Director: ‘Stimulus’ Spending Bad for Long-Term Growth