Episode 70: The Federal Government is Bankrupt
Words & Numbers
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The CBO's Projections for Future Debt
CBO's projections for future debt are wrong 95% of the time. CBO is actually pretty good at predicting GDP, and they tend to be off by 1%, 2%. If you break it down into forecasts of revenues and expenses, they consistently overestimate federal government tax revenues and consistently underestimate federal expenses.
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