Tuesday, February 4, 2014

A Moving Target At the CBO

The Budget and Economic Outlook: 2014 to 2024

Changes From CBO’s Previous Projections
Since May 2013, when CBO issued its previous baseline budget projections, the agency has reduced its estimate of this year’s deficit by $46 billion and raised its estimate of the cumulative deficit between 2014 and 2023 by $1.0 trillion. (That 10-year period was the one covered by the previous baseline.) Those changes result from revisions to CBO’s economic forecast; newly enacted legislation; and other, so-called technical factors, such as new information about recent spending and tax collections.

So who ya gonna believe, US or your jobless ass?

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