What does Obama have on the CBO?

by Sal on December 1, 2009

in Politics

Pure speculation here, but it seems that the CBO has done a 180 in the last several months.  Initially, their predictions on the cost of ObamaCare were pretty harsh to the Democrats, and fairly accurate.  In recent months, they seem to be using skewed accounting to illustrate that ObamaCare will:

  1. Lower the deficit
  2. Lower insurance Costs
  3. Insure Everybody

I originally discounted the about-face as a result of the Democrats’ cheating the system by raising taxes and taking in revenue for 4 years before starting to doll out benefits (in a 10-year budget projection, that is huge).  But now, the CBO is using ridiculous logic to claim that the Stimulus bill has saved or created up to 1.6 million jobs.  Their logic?

CBO has estimated the law’s impact on employment and economic output using evidence about how previous similar policies have affected the economy and various mathematical models that represent the workings of the economy.

So, the CBO is now reporting results based on economic theory and “previous similar policies” rather than hard data.  Given that there is no economic evidence that “previous similar policies” have produced good results, this whole CBO estimate is a farce.  Even the few jobs the Stimulus has created were temporary and are now going away.  So what does Obama have on the CBO and its director, Douglas Elmendorf?  This is Chicago Thug Politics that we are talking about, after all.

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