Tuesday, February 04, 2014

What is a bipartisan CBO worth?

About 6.2 trillion dollars and 1.6 million jobs.

Back when O'care was being considered the CBO provided the definitive "scoring" of the bill.  Unfortunately the Dems had complete control of Congress and therefore the CBO. That meant that CBO had to use Dem assumptions which in some cases were tantamount to accounting fraud.  For example the CBO was told to include ten years of revenue and only six years of costs in the scoring.  The result: an estimate of ten year cost of 1 trillion when the real number was 2.6 which the newly bipartisn CBO acknowledges and the lifetime number was 7.2 trillion. Likewise back then it estimated 800,000 in job losses due to O'care, now bipartisan CBO estimates 2.4 million fewer jobs.

And of course the drunk and pocketed press swallowed the numbers without even blinking.

For the life of me I cannot figure out how the Federal govt is going to get out of the coming fiscal and regulatory cataclysm.  The Press is heavily left partisan, the bureaucracy is heavily left partisan and on average half of the political class are left partisan.  There isn't enough non Dem infrastructure at the Federal level to truly do  bipartisan reform.

http://thefederalist.com/2014/02/04/5-devastating-obamacare-facts-from-cbos-latest-economic-report/

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