Quote Originally Posted by moosehunter View Post
I believe the stimulus bill was mostly written by Nancy Pekosi as Speaker of the House. So perhaps this cartoon was sexist and in bad taste. My question is how can President Obama tell Governors to spend the money wisely and not wastefully when the Congressional Buget Office considers it to be poor bill.
The bill was written by staffers based on a compromise between the Senate and House versions.

The CBO did not say it was a bad bill. They said that the stimulus bill designed to have short -term impact would indeed have short-term impact in boosting the economy. What has been twisted by some commentators and politicians to try and make this a negative was a single sentence in the letter to Judd Gregg that said that by 2019 the impact of the additional debt would be to reduce the baseline expected GPD to be reduced by .1% to .3%. According to the Heritage Foundation (a very conservative think tank) based on CBO estimate s the worst case would be that by 2019, GPD would be growing at 2.2% annually instead of the expected 2.5%.

If the Obama administration makes good on even part of their budgetary promises these numbers will change substantially as there would not be the amount of debt calculated by the CBO. Therefore that debt would not squeeze out private investment thereby positively changing the impact on GDP in the out years.

Cite: http://www.cbo.gov/ftpdocs/96xx/doc9619/Gregg.pdf