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The problem with the CBO, or most economic forecasts…

The problem with the CBO, or most economic forecasts...

The problem with the CBO, or most economic forecasts for that matter, is that they’re worthless ..

“In 2008, the CBO was predicting that the US budget deficit would turn into a surplus in 2011. Instead ended up being an $1+ trillion deficit for that year alone. Also, in the period between 2008 and 2013, the CBO then forecast a cumulative deficit of just a few hundred billion. Instead, we ended up with deficits of over $5 trillion and, sadly, still rising.”

CBO Forecasts: Then And Now | Zero Hedge

Or how a forecasted surplus turned out to be a $1+ trillion deficit in three short years…

http://www.zerohedge.com/news/2013-05-14/cbo-forecasts-then-and-now

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