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<blockquote data-quote="Jagger" data-source="post: 496164" data-attributes="member: 16628"><p><strong>McCain Lies About Negative GDP Growth</strong></p><p></p><p style="text-align: center"><span style="font-size: 12px">McCain falsely claims CBO says spending will cause us to have a negative GDP growth</span></p> <p style="text-align: center"></p> <p style="text-align: center"></p> <p style="margin-left: 20px">Chris Wallace allowed Sen. John McCain to falsely claim that, according to the Congressional Budget Office (CBO), "[a]ll of this spending, all of this debt, all of the policies" will, "in the long term, cause us to have a negative ... GDP growth." </p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px">In fact, CBO has predicted a slight reduction in long-term GDP growth when compared to current projections -- though not enough to result in negative GDP growth -- due to the "crowding-out" effect of the increase in government debt resulting from the economic recovery act.</p> <p style="margin-left: 20px"></p> <p style="margin-left: 20px"><a href="http://mediamatters.org/items/200903080011" target="_blank">http://mediamatters.org/items/200903080011</a></p> <p style="margin-left: 20px"></p></blockquote><p></p>
[QUOTE="Jagger, post: 496164, member: 16628"] [b]McCain Lies About Negative GDP Growth[/b] [CENTER][SIZE=3]McCain falsely claims CBO says spending will cause us to have a negative GDP growth[/SIZE] [/CENTER] [INDENT]Chris Wallace allowed Sen. John McCain to falsely claim that, according to the Congressional Budget Office (CBO), "[a]ll of this spending, all of this debt, all of the policies" will, "in the long term, cause us to have a negative ... GDP growth." In fact, CBO has predicted a slight reduction in long-term GDP growth when compared to current projections -- though not enough to result in negative GDP growth -- due to the "crowding-out" effect of the increase in government debt resulting from the economic recovery act. [URL]http://mediamatters.org/items/200903080011[/URL] [/INDENT] [/QUOTE]
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