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“Stimulus” Has Real Cost of $1.172 Trillion

That $825 Billion figure for what’s now being deemed “The Pelosi-Reid-Obama Debt Plan” floating around.  Total and complete excrement.

Interest payments on the national debt (Oh yeah, remember that?) will add an additional – hold on folks – $347 Billion to the cost of the bill over the next decade.

That’s $347 Billion which will not stimulate the economy but instead will go to foreign nations who are we’re borrowing all this money from.

There is a secret program lurking within the Obama-Pelosi-Reid Debt bill. You won’t find it listed in the table of contents, or anywhere else for that matter. Yet it will cost taxpayers an additional $347.1 billion over the next decade.

It starts out at the relatively modest level of $700 million in 2009, but rises inexorably thereafter—to $4.1 billion in 2010, $11.1 billion in 2011, $22.0 billion in 2012, $31.9 billion in 2013, $37.5 billion in 2014, $42.1 billion in 2015, until it reaches $53.6 billion in 2019.

We’re talking about the interest charges that will be required to finance the $825 billion cost of the debt bill. We learned this today in a letter that Congressional Budget Office Director Douglas W. Elmendorf sent to the senior Republican on the House Budget Committee, Rep. Paul Ryan of Wisconsin.

As you requested, the Congressional Budget Office has estimated the costs of additional debt service that would result from enacting H.R. 1, the American Recovery and Reinvestment Act of 2009. Such costs are not included in CBO’s cost estimates for individual pieces of legislation and are not counted for Congressional scorekeeping purposes for such legislation.

Under CBO’s current economic assumptions and assuming that none of the direct budgetary effects of H.R. 1 are offset by future legislation, CBO estimates that the government’s interest costs would increase by $0.7 billion in fiscal year 2009 and by a total of $347 billion over the 2009-2019 period (see enclosed table).

Keep telling yourself…$200 Million to clean-up the National Mall will create jobs.  $200 Million to clean-up the National Mall will create Jobs.

Obama Press Secretary Robert Gibbs sure will be. That government-run lawn care service is gonna rock!

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