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Even CBO deficit projections optimistic.(Inside Track)(Congressional Budget Office)(Brief article)
Despite the fact that the Congressional Budget Office recently adjusted the deficit estimates in the president's budget upward by $2.3 trillion for 2010-2019 (see above), we likely haven't heard the last upward revision. Even the CBO's most recent estimates are optimistic, projecting that "real (inflation-adjusted) GDP falls by 1.5 percent in 2009 before growing by 4.1 percent in both 2010 and 2011."
The CBO report acknowledges that its projections are optimistic, and mentions that its recent estimates grossly underestimated the current deficit: "CBO's current forecast, particularly for the near term, is subject to a greater than normal degree of uncertainty. [CBO's figures], based on CBO's past forecasting errors ... [assume] that ...
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...HOLDS A HEARING ON THE CONGRESSIONAL BUDGET OFFICE'S BUDGET AND ECONOMIC...PETER ORSZAG, DIRECTOR, CONGRESSIONAL BUDGET OFFICE [*] CONRAD: (OFF...as the director of the Congressional Budget Office. I know you've already...
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...independent numbers of the Congressional Budget Office." LAUGHTER "Well you...ll point out that the Congressional Budget Office was normally more conservative...Budget (OMB) and the Congressional Budget Office (CBO). At first glance...
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...Original Source: Political Transcript Wire THE CONGRESSIONAL BUDGET OFFICE HOLDS A NEWS CONFERENCE REGARDING CONTRACTOR...IRAQ AUGUST 12, 2008 SPEAKER: DIRECTOR OF THE CONGRESSIONAL BUDGET OFFICE PETER ORSZAG [*] ORSZAG: Good morning. Contractors...
Source: HighBeam Research, Even CBO deficit projections optimistic.(Inside Track)(Congressional...