Friday, November 10, 2017

The Mythical CBO World

Monkey business at the CBO? | Power Line:

Why is our nation $20 Trillion in debt? One of the big reasons is the "Non-Partisan CBO".

Why is it "non-partisan"? Well, because the media almost always puts that lable on it! It MUST be so!

The following paragraph shows how the sausage gets made -- or not made, in DC.

"Because the CBO has very likely overestimated the coverage loss associated with repealing the mandate, the alleged several hundred billion dollars of savings might well be mostly mythical. However, Congress operates in the CBO’s imaginary universe, as Levin puts it. If CBO estimates are to used authoritatively in the Obamacare debate to pump up the lost coverage numbers, it’s fair to use them authoritatively in the tax reform debate to pump up the savings numbers. Indeed, it would be unfair not to."
In the original BOcare scoring, the "non-partisan" CBO used 10 years of revenues to fund 6 years of benefits to show that BOcare was "deficit neutral" ... so the sentate could pass it with 50 votes.

So the Republicans would like to use the current estimate of the huge number of people that the CBO says would be using the BOcare subsidy to save money by cutting the subsidy. Small problem -- the CBO no longer stands by it's estimate -- it isn't being used to advance their agenda, so it is no longer "real".

Until the worldwide government debt bubble bursts, we live in a fantasy where electricity can be generated from unicorn farts and money falls from the sky just as valuable as the sort worked for by the sweat of the brow.

'via Blog this'

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