Friday, February 04, 2022

Budget -Wise We're Better Off?

 Congressional Budget Office does estimates of the effects of laws and proposed laws on the economy. Such estimates get media play.  What doesn't get media play is corrections:

In its March 2020 projections for fiscal year 2021, CBO underestimated revenues by 15 percent and overestimated outlays by 4 percent. CBO’s projection of the federal budget deficit in 2021 was more than the actual amount by 3.9 percent of GDP.

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