Ravenwood - 08/27/03 06:00 AM
Am I the only one that thinks we should scrap the Congressional Budget Office (CBO)? These people couldn't predict a blowjob in a $2 whore house. Just take a look at some of the boneheaded figures we've heard in just the past two years or so.
"Here's our budget and economic outlook that we just issued this past January 31 that projects that the surpluses for the next ten years will be $5.6 trillion." -- Barry Anderson, Deputy Director, CBO, March 2, 2001.The only thing we can predict is that the CBO will be wrong about this prediction just like they have been wrong about every other prediction they've ever come up with. And don't give me the bullshit excuse about changing variables and increased spending and tax cuts that couldn't be accounted for. If 10 year predictions are based on no changes being made over 10 years, what the hell is the point of forecasting them in the first place? Life is full of variables, and if you cannot predict the future any better than this, you probably shouldn't try. We would be better off with a big "deficit wheel", hosted by Bob Barker."Federal budget surpluses for FY02-11 are now expected to total $3.4 trillion compared to the $5.6 trillion the CBO had projected in January 2001." -- Terry N. Barr, Chief Economist, National Council of Farmer Cooperatives, August 2001.
"CBO's budget estimates of January 2002 forecast a unified budget surplus of $2.5 trillion over the fiscal years 2003-2012." -- IT Industry Council.
"The US government's budget surplus is expected to be 80% smaller than previously thought, according to the latest forecast from The Congressional Budget Office (CBO)." -- BBC, August 27, 2002.
"New CBO report puts deficit under administration policies at $1.8 Trillion over 10 years." -- Center on Budget and Policy Priorities, March 10, 2003.
"The congressional agency charged with keeping an eye on the budget has upped its deficit estimate for 2004 by $80 billion since its report from only two months ago, bringing the new deficit projection to $480 billion." -- Fox News, August 26, 2003
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