Government Agency Predicts Economic Uptick

Congressional Budget Office Says Stimulus Bill, Interest Rate Drop, Will Boost Economy

(AP)  Moves by Congress to pump money into the economy and by the Federal Reserve to lower interest rates will generate a slightly stronger economy this year, Capitol Hill economists predicted Friday.

The economy will experience real growth in gross domestic product of 1.9 percent this year, the Congressional Budget Office predicted, a 0.2 percentage point increase over estimates produced by the agency in early December and released last month.

The effect of the fiscal and monetary policy moves more than make up for a softening in the economy since CBO economists finalized their prior forecast of 1.7 percent growth. The agency did not say how much of the anticipated increase in GDP was due to the recently passed economic stimulus bill.

"The impact of monetary and fiscal policy stimulus slightly outweighs the deterioration in economic conditions," CBO Director Peter Orszag wrote in a letter to Senate Budget Committee Chairman Kent Conrad, D-N.D.

CBO produces nonpartisan budget and economic estimates for Congress.

The agency's updated estimate predicted a 2.3 percent GDP growth rate in 2009.

"Although CBO's projections do not show the slowdown in economic growth becoming severe enough to meet the economic definition of recession, the risk of a recession remains elevated," Orszag wrote. "Economic activity will remain subdued for some period as the economy continues to work through the effects of problems in the housing and financial markets and the high price of oil."

[random_radar]

"As if anyone with a brain would believe anything a Government agency says.

Posted by lorinkundert at 06:33 PM : Feb 18, 2008"

Ha ha! As if anyone in American had a brain! The government is safe.

[lorinkundert]

As if anyone with a brain would believe anything a Government agency says.

[tmittelstaed]

I don''t see how this will help - we''ve committed to putting the kicker check straight into out mortgage principal because we object to this sort of stimulus, and I would bet most people will use it to pay bills. It won''t do any good paying for stuff that was purchased months or years ago.

[trillion1]

william, just the answer we''d expect from a loser.

[mbcsmith]

Posted by veteran71 at 01:16 PM : Feb 18, 2008

LOL...LOL again. Bush derangement syndrome, agent orange or maybe a heavy dose of thai stick. This guy is our next school shooter.

[jwind11]

``The Kosovars are now independent,'''''''' Bush said on NBC television''''s Today program during a trip to Africa, according to a transcript. ``It''''s something that I have advocated, along with my government.''''''''

CAN YOU SEE. BUSH SAY''''S (MY GOVERNMENT) WHAT A A/S/S


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Posted by forthepeopl1

So the american government is not the Presidents?

[jwind11]

You gotta love these shiftless idiots that proclaim doom at every turn. We got some dumbazz out there seig heiling every other post, and another that thinks our economy runs on gold.

Yeah - every village has an idiot - and every one of them thinks they have it figured out. Ya gotta wonder which rock they crawl under after they are proved to be wrong. Gee, I guess the one claiming Seig Heil had better get a new line - Herr Bush hasn''''t become the dictator walter boy believes he is.


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Posted by speakinup

There are at least 2 Seig Heilers on here...biggest is mcvet and walt###....you have to write that off as serious emotional issues and not take anything they say with any credibility.

[forthepeopl1]

``The Kosovars are now independent,'''' Bush said on NBC television''s Today program during a trip to Africa, according to a transcript. ``It''s something that I have advocated, along with my government.''''

CAN YOU SEE. BUSH SAY''S (MY GOVERNMENT) WHAT A A/S/S

[jwind11]

All is well,.....ignore your hunger, lack of money and employment, and all time record mortgage defaults,
.......all is well, tune in Faux Nooz and Rush Limpdickk for all your information, and ignore other sources of information.....remain calm,...all is well,.....don''''t question authority,......if beaten or tasered by Police entering your home uninvited, do not resist, allow searches and siezures of your property and possessions,....the Constitution is only a piece of paper, it is obsolete,......do as you are told, all is well,......


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Posted by veteran71


What?

[trillion1]

Great rightwing response. "Get out of the country". There''s no room here for people like the founding fathers or real patriots. They just want sheep who never question the goverment and believe everything they are told.

[brianbwb-2009]

"Our economy is actually very good. historic low interest rates. Historic low tax rates. Low unemploymnet, and almost no inflation. Anyone who is complaining is obviously not old enough to remember the Jimmy Carter years". Posted by kesac4650

Your sense of humor is dry, but very funny. The unemployment figures only count those still receiving, or filing first time, those who have been unemployed longer than six months are not even counted, if they were, you would find the unemployment the highest it has been post ww2

Low interest means nothing when the money is financing slave factories abroad, and if you don''t think that the price of gasoline and consequently everything else is not rising at a near record pace, then I suggest you look out the window, and open your eyes.

[brianbwb-2009]

Posted by pilgrimsway

Seems to me that only cocaine using gay people who are fantasizing about an encounter with Mr. Obama would be even the slightest bit interested, or maybe those closet *** who hide their own proclivity behind outing and denouncing other gay people.

[pilgrimsway-2009]

Man files Federal Lawsuit against Obama regarding GAY oral act and drug use claims

A man named Larry Sinclair posted a video to YouTube claiming to have used cocaine and engaged in a gay oral act with Obama when Obama was a state legislator in 1999.

In the video, Sinclair claims he and Obama met on two separate occasions, that Obama used crack cocaine and that Sinclair performed an oral act on Obama both evenings.

Now Obama and company are quickly trying to quiet this man, but Sinclair has filed a federal lawsuit. Sinclair filed suit against Obama and his campaign guru David Axelrod in Minnesota district court for allegedly attempting to abridge Sinclair''''s right to free speech, and for waging an intimidation campaign against him.

check out the video on youtube for yourself:
http://www.youtube.com/watch?
v=sVeFVtcdSYY

America wants to know: where''''s the media coverage on this???? We deserve to hear the truth!

Posted by TruthBeTold- at 08:46 PM : Feb 17, 2008

[kesac4650]

Our economy is actually very good. historic low interest rates. Historic low tax rates. Low unemploymnet, and almost no inflation. Anyone who is complaining is obviously not old enough to remember the Jimmy Carter years.
I really love the nonsnese that some how China is financing us. The entire Chinese investment in our bond market is only equal to about 15% of ouyr housing market. Countrywide alone is 2/3 the size of every thing China has bout in the US.

[speakinup]

You gotta love these shiftless idiots that proclaim doom at every turn. We got some dumbazz out there seig heiling every other post, and another that thinks our economy runs on gold.

Yeah - every village has an idiot - and every one of them thinks they have it figured out. Ya gotta wonder which rock they crawl under after they are proved to be wrong. Gee, I guess the one claiming Seig Heil had better get a new line - Herr Bush hasn''t become the dictator walter boy believes he is.

[mcv57]

... anyway, I would love to see China and France ask for their gold (from Ft. Knox). How many ways can you say, "In your dreams."

[walt1944-2009]

Federal economists are saying that the economy will start perking up this year, thanks to the drops in interest rates by the fed and the "rebate" checks being sent to the citizens of the USSA, whenever the government decides to send those checks.

Of course, the average consumer has NOT personally seen any drop in interest rates, usuery fees and interest rates on credit cards are still high and will never go down unless there is a huge depression (very possible). Energy prices and food prices are still out of sight and medical costs are in a different galaxy.

At this point, anyone who believes anything the neocon Fascist Nazi government says is a Nazi themselves.

SIG HEIL, BUSH!!!

[jerkeedoodle]

EVERYTHING''S COMING UP ROSES...

[brianbwb-2009]

If the Africa campaign is not a success, the G7 financial senario will force the U.S. into bankrupcy.

Posted by mcv57

August 19, 1972, the day that Nixon opened the treasury and sold the gold on the open market, because France and Singapore had more dollars than the US had gold to cover, was the day that America declared bankruptcy.

Where did the money go? into the pockets of Bechtel, Raytheon, Halliburton, and other Vietnam war profiteers, who together embezzled $13.5 trillion dollars from the US treasury (from 1956 to 1972, calculated in 1972 dollars) during the South east Asia murder spree.

Since then, the dollar has only had any value at all because Nixon got OPEC to agree to accept US dollars as payment for oil. If the Fed cuts more, reducing the value of the dollar, the Chinese will cut their losses, dumping their 1.5 trillion of Bush''s "war" debt on the market, which will devalue it further, sooner or later OPEC will have to protect the value of their oil, switching to the Euro, especially if "bomb Iran" McCain has his way.

At that point, the true effects of the original bankruptcy can be delayed no longer, the economy will collapse.

[tucano2]

"Prosperity is just around the corner!" said President Herbert Hoover as the country and the world plunged into a Great Depression so deep it took 50 Millions killed in WW2 to balance consumers with resources. History repeats. Here we go again, so hold on tight because it''ll be a bumpy ride not all will survive.