A Hidden Economic Ideology: 6 Flaws in the CBO's Report

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http://www.nationofchange.org/hidden-economic-ideology-six-flaws-cbo-s-new-report-1339039741

The new CBO report is out, and it's a huge disappointment. Their report misrepresents both our nation's economic situation and the range of policy solutions available to the Federal government.

We'll review the report in greater detail in the days to come, but here are six glaring flaws that illustrate a hidden economic ideology - the same sort of anti-Keynesian, anti-spending, and anti-growth ideology that led so many economists to be so wrong in the last couple of decades.

Some flaws are analytical, some are errors of omission or bias, and some are merely misleadingly emphasized or presented facts. But, taken together, they illustrate the fact that our CBO - like so many economic institutions - has failed to absorb some real-life lessons of recent years.

The six most glaring flaws we found in the CBO report are:1. It ignores job creation.

The words “employment” or “jobs” appear nowhere in the summary of its report, and the report itself says little about job creation. It accurately describes the role of unemployment in reducing government revenue. So why isn't the job creation part of the revenue equation included in this report?

[woo me with science]

1. Kick