Jim Devine <[email protected]> wrote:
>CBO Changes Methodology for 2010 Long-Term Budget Projection > >Immediate Release: July 27, 2010 >Contact: Alan Barber, (202) 293-5380 x115 > >Washington, D.C.- The Congressional Budget Office (CBO) is generally >trusted as an impartial agency without a political agenda. A new study >from the Center for Economic and policy Research (CEPR), however, >calls attention to a change in the most recent long-term budget >projections that is a departure from CBO's past methodology and >results in stark differences in projections for the impact of deficits >on economic growth. > >"While there is no universal model to apply to these types of >projections, it is unusual that the CBO would, without explanation, >make a change that so significantly alters long term projections," >said Dean Baker, a Co-Director of CEPR and author of the report. > >"Has CBO Joined the Push for Cutting Social Security," notes that the >CBO has changed its modeling of the impact of deficits and debt on >private investment. The result is that the long-term budget >projections for 2010 show far more crowding out of investment than the >2009 projections, leading deficits to have a substantially more >negative impact on GNP growth. These growth projections have been >accepted in the media and many policy discussions as reliable >projections for the impact of deficits on growth. > >At a time when Congress is poised to make significant decision on the >future of the America's most important social programs, it is >essential that policymakers understand the unusual nature of these >latest projections. > >The full report can be found here >[http://www.cepr.net/documents/publications/cbo-2010-07.pdf]. > > >-- >Jim Devine >"All science would be superfluous if the form of appearance of things >directly coincided with their essence." -- KM >_______________________________________________ >pen-l mailing list >[email protected] >https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
