JBeukema
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Stimulus Jobs Count: CBO Admits It Ignored the Economy?s Actual Performance Stop the Pork!If a meteorologist was asked what the days high temperature had been, would it be acceptable to simply repeat his/her earlier forecast? Of course not. The forecast was merely a prediction, which should now be replaced with what actually happened.
Yet that is the approach the Congressional Budget Office (CBO) used when declaring that the stimulus had saved 1.5 million jobs. Rather than actually examine the performance of the post-stimulus economy, it essentially re-released its old forecast that the stimulus would likely create jobs.