Episode 274: The CBO Predicts the Future
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CBO Forecasts for Tax Revenues Are 27% Too High
CBO must incorporate whatever assumptions the politicians give them, no matter how outlandish. By law, on average, their forecasts for tax revenues are 27% too high. You get forecasts from the CBO that the politicians can now point to and say things like "My economic policy is going to generate extra trillion dollars of additional revenue"
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