Obama’s Stimulus Will Cause 'Lower Wages' for American Workers, Says Congressional Budget Office

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The huge economic stimulus package that President Obama signed into law Tuesday will result in ''lower wages'' for American workers, according to the Congressional Budget Office (CBO).

(Snip) says the $787-billion plan will increase employment in the short-term, but will run up deficit spending which will ''crowd out'' private investment in the economy in the long-term. The analysis concludes that the stimulus will put downward pressure on Gross Domestic Product (GDP) and wages...