Is the CBO really so infallible?
Almost alone in the public’s appraisal of the government, the Congressional Budget Office emerged from the health care debate as a symbol of nonpartisan truth-telling. Who, asked the media, would doubt the Non-Partisan, Objective CBO? If the CBO claims that the Democrats’ plan will reduce the deficit, who are we [...]
Like a used car salesman, giddy at the prospect of unloading an old Ford LTD, Speaker of the House, Nancy Pelosi, is flaunting yesterday’s Congressional Budget Office (CBO) score as proof that Utopia costs nothing. The tragedy is that many will believe her – at least until the interest rate resets to 39%, the baling [...]
Congressional experts pegged the 2010 U.S. budget deficit at $1.35 trillion, a slight improvement from the $1.38 trillion estimate in August, but the overall picture of the government’s finances remains bleak, according to the annual report released Tuesday. The Congressional Budget Office said the government will run an aggregate deficit of almost $6 trillion during [...]
It was January 2009, and Democrats were triumphant. Their party had won major victories in both the House and the Senate, and Barack Obama, arguably the most economically left-wing president in decades, had just won the White House on a promise to finally achieve what had eluded liberals for so long: universal health care. As [...]