Government predicts recession will end this year.

Posted by Arkady K. On 2/08/2009

This is from the Congressional Budget Office, specifically their macro projections for the next 10 years. The PDF can be downloaded here.

Below is what really matters though. This is the 3rd page of the document and shows several key factors from 2007 to 2010. Specifically observe that by 2010 Revenues are projected to increase. GDP also jumps after completely flat lining from 2008-2009 and more importantly deficit dramatically drops. Do yourself a favor and peruse the 9 page document.

Given the evidence, what one should immediately inquire is, what the hell is going on in congress. Why, given the bi-partisan organization (the CBO) that both parties implicitly trust, they are continuing to push this stimulus package on Americans? Why is Obama purposely fear mongering and suggesting that a catastrophe looms, when the best forecasters disagree. Every American should be extremely concerned as to why our future is being mortgaged for political gains. With over 100s of billions directed toward disadvantaged neighborhoods, foreclosures, Pell grants, green research, community neighborhood beautification one might wonder if this bill is nothing more than payoff to a certain constituency. When the GOP states this bill lacks stimulating factors, they are not throwing monkey wrenches they are stating a fact.

(Click to enlarge)

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.” - M. Rothbard