The Inaccuracies of The Congressional Budget Office

[longknife]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

 

[JakeStarkey]

^^ Nonsense.

If it supported Trump's plan, no matter how inaccurate the accounting protocol, you would be all for it.

 

[JoeB131]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

 

[longknife]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

How can you be certain of that when the CBO isn't? They openly admit that they deal in guesswork as they often don't have all the necessary input.

 

[JoeB131]

How can you be certain of that when the CBO isn't? They openly admit that they deal in guesswork as they often don't have all the necessary input.

You are right, in that it might only cost 18 million people to lose insurance, or it might cause30 million to lose insurance. Clearly, there are a lot of other factors they can't plug in. For instance, WHEN the Trump Recession starts, that number will probably get worse.

But the scoring method Democrats and Republicans agreed to say, yup, 24 million will be thrown off health coverage. Which is why the House rammed this turd through before the CBO could score it.

 

[JakeStarkey]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

How can you be certain of that when the CBO isn't? They openly admit that they deal in guesswork as they often don't have all the necessary input.

What they deal in is far better than what you pull out of your armpit.

 

[Moonglow]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

 

[martybegan]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

 

[Darkwind]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

They don't do 'correct analysis' very often either.

 

[martybegan]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

Tomato, Tomah-to, Potato Po-tah-to.

 

[JoeB131]

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Except there's no evidence for that.

Look, if you guys want to throw millions of people off of coverage to give tax breaks to billionaires, then just be honest and admit that's what you want to do.

 

[martybegan]

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Except there's no evidence for that.

Look, if you guys want to throw millions of people off of coverage to give tax breaks to billionaires, then just be honest and admit that's what you want to do.

There is no evidence that they are accurate either.

GIGO.

 

[JakeStarkey]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Nonsense, marty.

 

[JakeStarkey]

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Except there's no evidence for that.

Look, if you guys want to throw millions of people off of coverage to give tax breaks to billionaires, then just be honest and admit that's what you want to do.

There is no evidence that they are accurate either.

GIGO.

Neither are any individual's guesses.

 

[martybegan]

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

Thanks, bud. YOu demonstrate the problem with the modern Republican Party.

If the science or the math doesn't say what you want it to say, you reject the science or math.

the AHCA will cause 24 million people to lose insurance coverage. How do you keep that from happening?

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Nonsense, marty.

Your typical content free retort.

 

[martybegan]

The CBO doesn't do "math", it does algebra, and like a computer, it is vulnerable to the age old data truism:

GIGO. Garbage In, Garbage Out.

Except there's no evidence for that.

Look, if you guys want to throw millions of people off of coverage to give tax breaks to billionaires, then just be honest and admit that's what you want to do.

There is no evidence that they are accurate either.

GIGO.

Neither are any individual's guesses.

That isn't an answer.

 

[Moonglow]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

They don't do 'correct analysis' very often either.

There are radial variables that can change the estimation, nothing new.

 

[Darkwind]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

They don't do 'correct analysis' very often either.

There are radial variables that can change the estimation, nothing new.

Of course. Which is why no one should ever apply any real value to a CBO report.

 

[Moonglow]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

They don't do 'correct analysis' very often either.

There are radial variables that can change the estimation, nothing new.

Of course. Which is why no one should ever apply any real value to a CBO report.

I suppose.With that logic, anything that comes out of Congress should have no value.

 

[Darkwind]

This agency was formed in 1974 to help Congress decide the financial effect of legislation before it’s enacted. I can’t find how many employees it has but here are the various divisions of it:

Budget Analysis

Financial Analysis

Health, Retirement, and Long-Term Analysis

Macroeconomic Analysis

Management, Business, and Information Services

Microeconomic Studies

National Security

Tax Analysis

In 2014, Jason Furman, then director of Obama’s Council of Economic Advisers, was discussing a CBO report when he told reporters:

“The final thing I’d like to say is that CBO themselves stress that their analysis is not complete — it doesn’t reflect the full set of factors — and that there’s substantial uncertainty around their analysis. In particular, I think there’s three very important ways that the Affordable Care Act is and will continue to improve labor markets that weren’t reflected here.”

In other words, they make guesses on incomplete information and that is was Congress uses to decide the fate of legislation. While the president is paring down and cleaning out the executive branch, it’s clearly time Congress does the same in its own branch.

This story is @ Investigation Into CBO Just Uncovered What's Really Wrong With Washington DC

They don't do guesses they do analytic statistics.

They don't do 'correct analysis' very often either.

There are radial variables that can change the estimation, nothing new.

Of course. Which is why no one should ever apply any real value to a CBO report.

I suppose.With that logic, anything that comes out of Congress should have no value.

Well, not everything. However, any and all CBO evaluations should be treated with extreme skepticism.

People hear the term, "non-partisan CBO" and immediately give this agency credibility. That is a huge mistake. They are no more credible than any other organization that 'guesses' at the cos of things.