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Factor of five is the average underestimate, if I recall correctly. What do you expect from a bunch of Keynesians?
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Factor of five is the average underestimate, if I recall correctly. What do you expect from a bunch of Keynesians?
The CBO has a history and reputation for terrible estimates and projections. Usually by a factor of 5 or 10.
They consistently underestimate government spending and deficits
They consistently underestimate the effect of tax cuts and other pro growth policies