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CBO's Guesses Guide Policymaking

Sheldon Richman

“As Democrats embark on a plan to reorder one-sixth of the U.S. economy, the CBO [Congressional Budget Office] is the umpire, charged by Congress with assessing the effect on the federal budget and the potentially profound impact on American lives. The Senate majority leader has vowed to hold no vote on a health plan until the CBO passes judgment. But the agency, while almost universally praised for honest and impartial analyses, does not have a crystal ball…. Inside the estimates Much of what the CBO does is akin to trying to forecast your grocery bill in 10 years.” (Washington Post, Monday)

Never believe the government’s numbers.

FEE Timely Classic
“Mencken’s Wisdom” by Donald J. Boudreaux

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