CBO

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The CBO or Congressional Budget Office is an agency that has never been right in it's entire existence.



I heard another good example of the CBO‘s incompetence today. In 2003, the CBO estimated that cutting the capital gains tax would generate $215 billion in revenue over the following four years. The actual amount generated was $377 billion because of economic growth. The CBO was only off by 75%!

The current CBO estimate of the senate tax bill that assumes $1.5 trillion growth in the annual deficit is equally wrong. Why? Because it doesn’t use dynamic scoring. It doesn’t take into account economic growth caused by lower taxes. It assumes only 1.9% annual GDP growth. If this tax package can just give us 3% annualized growth over the next four years, then the $1 trillion increase in the deficit will be erased. That’s more than realistic. I think the odds are in favor of at least 3% annualized growth over the next four years with Donald Trump as president and the GOP in control of Congress and the Supreme Court.


I don't care if people like/hate ACA. I do care about dishonesty in selling it. If you look at CBO promises, versus actual, we find that the CBO is a tool for the dishonest to proselytize to the gullible. They said we'd have 25 million paid suscribers (to offset all the subsidized ones), and even then it was going to cost us $2T/decade in deficit spending. The actual is far worse.

https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/theapothecary/2017/11/24/no-obamacare-enrollment-is-not-strong-not-by-a-longshot/&refURL=https://l.facebook.com/&referrer=https://l.facebook.com/

More https://economics21.org/html/what-recent-cbo-reports-tell-us-about-fiscal-stimulus-and-federal-budget-437.html

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