Hannity falsely claimed CBO "say[s]" economic recovery plan is "not a stimulus bill"

From Media Matters-

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."