That's
the claim here:
The Congressional Budget Office on Friday confirmed that President
Obama’s jobs bill would be fully paid for over ten years and also gave
its seal of approval to Senate Democrats' version that includes a surtax
on millionaires.
The CBO said that the original Obama stimulus
bill would involve $447 billion in tax cuts and new spending—the same
estimate given by the administration. It said the bill would raise $450
billion over ten years. The result is a $3 billion decrease in deficits
over ten years.
What are they missing? Oh, yeah, there's this little bit:
The CBO did say that the original bill would increase the short term budget deficit in 2012 by $288 billion.
Translation: They're going to spend a lot now, and they promise pay it back years from now. Say you want to buy a new car. But because you put a lot of miles on your car every year, it will only last you two years, at which time it's basically a junker. And you want the bank to stretch your payments out over ten years.
No banker worth the name would make that deal.
