The Mismatch Between Economic Consensus and What To Do About It
August 26, 2011
[Guest post by Matthew Zeitlin] When Congressional Budget Office head Douglas Elmendorf sat down with reporters on Tuesday to give the CBO’s update on the budget and economic outlook, he repeatedly shied away from one word: should. The CBO, Elmendorf said multiple times, does not make recommendations to policy makers about what policies they should pursue. They merely provide analysis on the state of the economy and the budget, as well as projections for the effects of proposed policies.
CBO Margin Of Error For Me, Not For Thee
January 07, 2011
One annoying habit of conservatives is to embrace every favorable analysis by the Congressional Budget Office and discard every unfavorable one. Here's Kevin Williamson at National Review insisting the Affordable Care Act will increase the deficit: CBO director Douglas Elmendorf readily concedes that “estimates of the effects of comprehensive reforms are clearly very uncertain, and the actual outcomes will surely differ from our estimates in one direction or another.” One direction or another.
A Weak Attempt To Justify Extending The Bush Tax Cuts
December 01, 2010
National Review editorializes in favor of permanently extending all the Bush tax cuts.The argument begins by asserting that even the compromise Democratic offer to extend tax cuts for all income below one million dollars a year would be too onerous for the poor, poor families trying to scrape by on a low seven-figure salary: Plan B was a large tax hike on families earning $250,000 or more.
Spend Now, Save Later? DC's Fiscal Cop Gets It
June 30, 2010
The new Congressional Budget Office report on the government's fiscal outlook is getting a lot of attention. And rightly so. But the more interesting news from the CBO today may be something its director, Douglas Elmendorf, said in testimony to the bipartisan fiscal commission. Elmendorf came before the commission to describe the country's fiscal situation, which he sees as bleak.
Always In Motion Is the Future
November 24, 2009
Harold Pollack is a professor at the University of Chicago School of Social Service Administration and Special Correspondent for The Treatment. Democratic senators and staff are still crowing about the latest Congressional Budget Office scores. According to CBO, the Senate bill costs out at $848 billion, and is estimated to reduce the federal deficit by $130 billion by 2019. Mazol Tov to Senator Reid for the good numbers.
How to Get Around Bad CBO Scores
October 19, 2009
With all the focus on a handful of high-profile items, many important features in the House and Senate health reform proposals are being overlooked. And some of these neglected items bear on the fiscal soundness of whatever reform is eventually adopted. Consider the proposed new federal long-term care program (the “CLASS Act”), which is included in both the House and Senate HELP Committee bills but not in the Finance Committee’s version. Enrollment in the program would be voluntary and open to all active workers and their spouses.