reply to post by TauCetixeta
Well, in the interests of trying to be helpful more than debating at this point, I appreciate your use of official sources. So many don't do that and
then wonder why they aren't taken seriously by others. Fox or CNN is hardly an official source, of course.
The problem I see with the CBO, and I'm someone who DOES regularly reference and cite them myself, is that they are an Analysis and Number crunching
agency. The GAO is one that publishes the actual, finished products of numbers and status for things like the Budget or Federal Law. The Congressional
Budget Office, on the other hand, takes any and all requests for number crunching by Congress or related parties, without using anything outside of
what has handed them, produce the results asked for. It's produced within the very narrow and specific confines of the data supplied to them.
During the Obamacare debates, the CBO took, crunched and reproduced many sets of data for the debates and policy making. *ALL* ended up wrong and
worthless in the end. Not because they weren't accurate to what they'd been asked to report, but because the report wasn't meant to convey a finished
product or end state.
The CBO just analyzes possible outcomes and reports what it would or will look like.
As far as 'estimating GDP'. Well, yes, my sources do....and some of that is sourced, originally FROM the CBO itself. They are a primary source in the
U.S. for predictive and policy making data. The U.S. Budget as proposed by Obama (See here
thje numbers assumptions and predictions used in building all the other numbers within an appendix to the overall budget. Some of those numbers HAVE
already changed...but generally for the worse, not better from where they were when written many months ago.
I think the bottom line here is what we have the most trouble with in general. Without a REAL budget that neither party seems at all interested in
passing (The House would have to pass one before fighting to have it, of course) we have a variety of sources for this. All different and some wildly
different for dolar numbers and projected effect.
While that is happening and we can't get 100% certain numbers as we'd all like to, I look at 17 trillion in standing debt (Highest in the world by
far) and I look at the Treasury and Fed doing things, right up into last week, to make it worse.....and don't see any sign to feel good. In my Budget
thread, on page 3. Another member had taken the time to run the numbers and see just what it would require to pay off the debt. I'll let his words
speak for themselves.
One estimate of what paying the debt will take
It doesn't simply take a balanced budget....we need SURPLUS in the half Trillion dollar range, every year, without fail. That will still erquire most
of the 21st century to pay off. What are the odds we return to actual annual surplus range, let alone a half billion a year?
edit on 7-3-2013
by Wrabbit2000 because: (no reason given)
edit on 7-3-2013 by Wrabbit2000 because: minor correction