I heard on Bill Bennett this morning how much the Obama Stimulus plan was going to cost. It was sold at a "meager" $789 billion. But that played a cruel hoax: it boosted spending on the favorite programs of Democrats, then magically cut them back to pre-Stimulus spending after a couple years. Does anyone really thing that Democrats will cut back their programs?
To get a grip on this, Rep. Paul Ryan (R-WI) asked the CBO to estimate the impact of permanently extending the 20 most popular provisions of the stimulus bill. The CBO estimated the true 10-year cost of the bill at $3.27 trillion.
In case you missed it, here is what a trillion dollars looks like.
I was unsurprised to hear that Obama misled the public about the true cost of his plan. Bait-n-switch is proving to be his M.O.
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