Quote:
Originally Posted by freemkt
The first thing on the chart is a CBO 2001 forecast. Forecasts can turn out to be correct or incorrect, but I've never heard of a forecast being false.
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Unless the data or methodology was coerced or skewed.
The Social Security Administration forecasts were false.
Why? Because they relied on data/methods that were heavily skewed and totally unrealistic. Their assumptions on GDP growth border on the realm of hallucinogenic fantasy. And because their GDP assumptions are false, so are their revenue assumptions.
Quote:
Originally Posted by freemkt
Was that a Democrat CBO or a Republican CBO forecast in 2001? (Garbage In, Garbage Out - when the CBO number crunchers are given bad inputs by Congress, they turn out bad forecasts.)
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But they aren't given anything by Congress. CBO merely looks at the current laws (meaning the budget) and then gets its data from the Departments of Agriculture, Commerce, HHS, HUD, Treasury, VA, Labor etc etc and then gets data from other offices like SSA and IRS.
Quote:
Originally Posted by wade52
What did he buy with all that spending?
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Time.
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