Hannity falsely claimed CBO "say[s]" economic recovery plan is "not a stimulus bill"
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SUMMARY: Discussing the economic recovery bill, Sean Hannity falsely claimed that the Congressional Budget Office "say[s] it's not a stimulus bill." However, in analyzing the House and Senate versions of the bill, the CBO stated it expects that either version "would have a noticeable impact on economic growth and employment in the next few years."
Discussing the economic recovery bill during the February 2 broadcast of his Fox News program, Sean Hannity falsely claimed that the Congressional Budget Office (CBO) "say[s] it's not a stimulus bill." However, in analyzing the House version of the bill, H.R. 1, and the proposed Senate version, the CBO stated that it expects the measures to "have a noticeable impact on economic growth and employment in the next few years." Additionally, as Media Matters for America documented, in his January 27 testimony before the House Budget Committee, CBO director Douglas Elmendorf said that H.R. 1 would "provide massive fiscal stimulus that includes a combination of government spending increases and revenue reductions." Elmendorf further stated: "In CBO's judgment, H.R. 1 would provide a substantial boost to economic activity over the next several years."
Hannity also suggested that the CBO, in addition to Goldman Sachs CEO Lloyd C. Blankfein, has stated that money spent "in 2010, 2011, 2012" would be ineffective as economic stimulus, asserting that "[w]hat they're telling us" is "the infrastructure spending and real spending in this bill comes out in 2010, 2011, 2012. How does that -- how do you label that a stimulus plan?" But as Media Matters has noted, economists, including Elmendorf, have said that fiscal stimulus in 2010 or later would be effective in the current economic situation, in which economic output is projected to remain below its potential long after the technical beginning of the recovery. In his January 27 testimony, Elmendorf stated that, unlike in ordinary "periods of economic weakness" that "are fairly short-lived," "CBO projects that economic output will remain significantly below its potential for several more years, so policies that provide stimulus for an extended period of time may be appropriate."
From the February 2 broadcast of Fox News' Hannity:
HANNITY: We had a stimulus in the early part of the year. What -- when has government spending like this -- first of all, it's unprecedented in American history. James, when has this ever worked in history? It never has.
JAMES DELINGPOLE (author): In my country, we've been punished for this over the last 12 years. You can either advance the cause of the economy or you can advance the cause of socialism. You can't do both.
HANNITY: And Great Britain is on the verge of bankruptcy.
DELINGPOLE: I'm afraid it is. Yeah, we've seen it all before.
BOB BECKEL (Fox News contributor): It was on the verge of bankruptcy when the -- when Labour took over. That was the problem.
And by the way, in that introduction you just gave, when you described that bill, there were more factual errors in the opening of that than I've ever heard you give, which is an amazing thing. There's no mall money, No. 1.
HANNITY: There was. They took it out.
BECKEL: It's not in the bill, Sean.
HANNITY: They took it out.
BECKEL: There's a final bill - let me explain to you how this works. House, Senate, get together conference. Right. Now --
HANNITY: I understand.
BECKEL: And you're going to -- I know you do. I'm proud of you, and that Catholic education did you a world of good.
Now, I don't know where you've gotten misguided, but somewhere along the way. Look, the fact of the matter is that the Republicans now have gotten a lot in this bill in the last 48 hours. Obama has met with more Republicans in three days than George Bush met with Democrats in four years.
And you get business tax breaks, and you've now got housing credits that the Republicans wanted. What more do you want? And you lost. And you lost. If it were up to me --
HANNITY: I understand Obama and Nancy Pelosi say that at every meeting.
Here's the problem, Bob, is that the Congressional Budget Office, which used to be the gold standard that we used to rely on to give us information, even they say it's not a stimulus bill. Goldman Sachs' CEO says it's not a stimulus bill.
What they're telling us is the following is that, you know, the infrastructure spending and the real spending in this bill comes out in 2010, 2011, 2012. How does that -- how do you label that a stimulus bill?
BECKEL: First of all, if I could just update you at little bit. At this hour, they're now up to 74 percent in the first two years -- the Congressional Budget Office.
Secondly, what is your alternative? Do you want to go back to George Bush economics?
Secondly, what is your alternative? Do you want to go back to George Bush economics?
Cue Seannie's string of lies. (inherited recession, 9/11, Clinton's fault, etc., etc.)
Holy crap, he looks EXACTLY like American Dad!
I was thinking more like Nathan Lane.
"OH NOES!!!1!! TEH SOCIALISTS ARE COMING!!!!1!!!!!!1! SHRIEK!!!1"
"Goldman Sachs' CEO says it's not a stimulus bill."
Was that before or after they paid out $14 billion in bonuses?
Listening to this hack is like nails on a chalk board. How many times did he mention Ronny Raygun in his factless shill of a hissy fit rant?
Hahaha... the bill would have "a noticeable impact in the next few years?"
translation:
It will have no effect stimulating the economy now, but if the recession ends in the next few years, then the impact should be felt.
That's like telling a heart attack victim to eat broccoli, exercise, and lose weight. Of course it should have a noticeable impact in a the next few years, but it does nothing for the arterial blockage right now.
Never mind that it is being sold as a "stimulus" bill when more than half of the trillion won't go into the economy until 2010 or later.
It is the largest spending bill ever. Who pays for it? Does anyone know if it will work? What happens when the bill comes due?
Are you the German fish?
Let's use Neo-con logic: The stimulus plan will pay for itself with increased revenues due to more people having jobs and paying taxes.
If you believed the Iraq war would pay for itself, why wouldn't you beleve that?
"but it does nothing for the arterial blockage right now"
Except for that social spending that the Republicans want to take out.
Check out this article from Time magazine about the stimulus bill. It struck me as fairly balanced.
http://www.time.com/time/politics/article/0,8599,1876535,00.html
"f the recession ends in the next few years"
So do what we've been doing and hope it gets better, Mr. Hoover?
Instead of creating jobs now, you would rather return to the good old do nothing ways of the typical lazy Bush Republican sort. Too lazy to lead, too lazy to think up any good ideas, too lazy to do the responsible thing and find something that works and discard what doesn't.
Unbelievable. We, as a people used to pride ourselves our ability to take risks, innovate, experiment. But not todays Republican. Much like the most insidious Al Qaeda operative, today's Republican is rigid in their ideology and invested in watching this bill fail for their own self-serving political gain.
Is the Al Qaeda reference a pace too far? Just ask, Limbaugh, about the Republican desire for Obama to fail.
Someone refresh my recollection, but didn't Sean Hannity recently win an award for lying? It's one thing to be just a regular liar...but an award winning liar, now that's something special. Congrats again, Sean. Keep up your lying ways...you're a great American. And Jesus loves your lying, too, Sean...
"Secondly, what is your alternative? Do you want to go back to George Bush economics?"
Nice work, Beckel!
I listen to Hannity for the first ten minutes of his radio show every afternoon, because I'm in the car at the same time. He spews EXACTLY the same garbage in EXACTLY the same words every single day- I can't believe anyone listens to his moron for three hours a day, and I REALLY can't believe that he gets so much money to say NOTHING. EVERY. DAY.
Ah, the right wing liturgy. Swill, slosh, & spit. Repeat....
No, Mary. They suck, swallow and repeat.
No, Mary. They suck, swallow and repeat.
This sounds like Ground Hog Day. ;-)
He gets paid a lot of money to lie to a very stupid audience every day so that they will stay angry with Democrats and keep voting Republican. What's more American than that? What's more Christian than that? Heck, Jesus was an American, you know...yep, he spoke English, too...and supported our troops... and loved the American flag...and cried during the National Anthem...and hated liberals...and loved country music and monster truck rallies...you know, like a REAL American. ;>)
Hannity gets paid a ton of cash to defend corporate totalitarianism, as does Rush. I wonder how many people on the lower rungs of the ladder at Fox or Clear Channel had to be laid off to make room for Rush's and Sean's fat multi-million dollar contracts. Real men of the people, that lot. Right.
However, you realize it is that exact condescension to rural culture that helps Hannity make his argument that we are liberal elitists? I'm not trying to dog you for it, I understand you might be country yourself, that makes no difference in the end. We just make it easier for the cultural conservatives make their case if we berate the NASCAR lifestyle instead of relate to their hardships and make it very clear that it was Reaganomics that killed the economy.
I'll stop pontificating now and humbly listen to your response.
While I understand and appreciate your comments, I honestly regard Sean Hannity and his herd of dumb-as-rocks, flag waving followers as totally irredeemable...Hannity and his minions are beyond help. It's not a question of holding political opinions which are different from mine...I'm okay with that and can behave appropriately. However, Hannity and his morons take it to an entirely different level of dishonesty and stupidity...and IMO they represent the very worst of American ignorance and hypocricy. I can't bite my tongue in this case...
Right on. You are correct, some people are unpersuadable.
IRONY, AMEN TO THAT LAST POST
SMITTY, If you check the facts you will find out that tax cuts ARE in the package, moreover, they are geared to the working middle class, not the rich.
Can you please provide me with references to where you found this information please. I was under the impression this bill contains a lot of new spending which is obviously nothing we need at this time. And can you tell me whether or not this stimulus package will send more checks to the American people like last year's stimulus check?
That guy Dillingpole (sic) is kind of like the Ann Coulter of the UK.