Stimulus Jobs Count: CBO Admits It Ignored the Economy?s Actual Performance Stop the Pork![W]e dont think one can learn much from watching the evolution of particular components of GDP [gross domestic product] over the last few quarters about the effects of the stimulus so we fall back on repeating the sort of analysis we did before. And we tried to be very explicit about it that it is essentially repeating the same exercise we did rather than an independent check on it.
When asked if this means that any actual underperformance of the stimulus would fail to show up in the CBOs stimulus jobs count, Elmendorf replied Thats right. This means the 1.5 million jobs saved estimate was pre-determined.
Raise your hand if you're surprised...