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re: Democrat-controlled budget office wrongly analyzed Trump's big bill, missed record savings
Posted on 6/7/25 at 5:34 pm to Auburn1968
Posted on 6/7/25 at 5:34 pm to Auburn1968
quote:Not really. If you look back to 2013, their forecast through 2019 was pretty damn close, though the tax cuts from 2017 weren't included in the 2013 forecasting (obviously). If anything, they were generous, we outspent their estimates over that time.
The CBO has a long track record of being wrong with a big twist of bias.
And it's pretty obvious something similar will will happen again, as the "cuts" being touted in the BBW don't come until 2029-2030. There is zero chance those actually happen.
0
Posted on 6/7/25 at 5:52 pm to Auburn1968
quote:
The CBO has a long track record of being wrong with a big twist of bias.
Chat GPT LINK
quote:
Final Take
Across the past decade, CBO has demonstrated greater transparency and comparable or better accuracy—especially at the two-year horizon and shorter—than OMB. Given its self-assessments and methodological rigor, CBO generally earns higher trust. That said, both agencies face limits, especially in long-term projections. CBO’s forecasts are widely viewed as the more reliable baseline for federal budget expectations.
Posted on 6/7/25 at 5:53 pm to cajunangelle
Not surprisingly at all.. Paul Ryan deep state at work here.
Posted on 6/7/25 at 5:57 pm to PaperTiger
quote:
FACT: The One Big Beautiful Bill’s $1.7 trillion savings are permanent changes to the law — meaning these savings will continue long into the future.
Calling them "permanent" is a lie. This congress can't control the laws that a future congress will write. If congress in 2030 wants to spend more than the BBB allows, they'll just write a new law and spend away. In fact that's probably more like a certainty.
Posted on 6/7/25 at 6:04 pm to PaperTiger
quote:
They've never been that far off
I mean that difference between the two is absurdly off. Not just a little bit.
CBO is considering the extension of already existing tax cuts as adding to the deficit.
It is not dynamically scoring the new tax cuts (i.e., ignoring the inevitable the increase in revenue).
It is projecting GDP at 1%
Posted on 6/7/25 at 6:10 pm to cajunangelle
This is theater to get people to support the bill. Dems are wiling to play along because much of the pork is to be allocated to them.
This bill sucks. The people who oppose it weren't relying on the supposedly fraudulent analysis.
This bill sucks. The people who oppose it weren't relying on the supposedly fraudulent analysis.
Posted on 6/7/25 at 6:13 pm to cajunangelle
quote:
But Trump has a mandate and a lot of what he promised is in the BBB. Will the so called moderates like Thune and others throw pork in-probably...
This. What most don’t realize is to get the main things we want is there will have to be some pork to buy off a few holdouts. It sucks but such is the case with slim majorities
Posted on 6/7/25 at 6:15 pm to TBoy
The issue is THE TAX CUTS HAVE BEEN IN THE BUDGET FOR YEARS. You cant add them as if they are new tax cuts or a shorfall to the budget.
Other than a deduction on SS and tips, I hope people arent expecting 3.5 trillion in tax cuts, but they will see that increase in their taxes if it doesnt pass.
Now the 1.7 trillion in cuts is over 10 years and based on medicaid cuts in the out years which is a dream.
The DOGE cuts are eaten up by another huge increase in the MIC which is asinine.
Other than a deduction on SS and tips, I hope people arent expecting 3.5 trillion in tax cuts, but they will see that increase in their taxes if it doesnt pass.
Now the 1.7 trillion in cuts is over 10 years and based on medicaid cuts in the out years which is a dream.
The DOGE cuts are eaten up by another huge increase in the MIC which is asinine.
Posted on 6/7/25 at 6:17 pm to dgnx6
quote:
lol it took you guys 4 years to come to the analysis of Joe Biden.
Biden was a clown President.
This is a clown bill.
Both can be right.
Posted on 6/7/25 at 6:51 pm to TBoy
quote:
This ridiculous Republican circus has lost its collective minds.
Says someone who believes a man can finish 5th in a competition, go to bed, then wake up as a woman and go on to win a state championship
Posted on 6/7/25 at 7:05 pm to cajunangelle
quote:
White House says
Sure, sure.
This post was edited on 6/7/25 at 7:13 pm
Posted on 6/7/25 at 7:09 pm to cajunangelle
Take home straight to jail. Although, he will enjoy the sodomy with no lube. On 2nd thought, throw him in adyke prison.
Posted on 6/7/25 at 7:10 pm to udtiger
quote:
It is projecting GDP at 1%
Yeah, they stuck in O's 2008-2016 growth rate.
Makes it easier than actually projecting a healthy economy and expanding businesses and incomes.
Frick em.
What is the old saying? There are lies, damned lies and statistics.
That is in play here by the CBO, the D's and the lapdogs in the Media.
Posted on 6/7/25 at 7:13 pm to cajunangelle
quote:Lol
White House says
Posted on 6/7/25 at 7:19 pm to TBoy
quote:
blaming democrats for “wrong analysis” isn’t serious.
Why? If the analysis is wrong they should say so, and if not say why not.
The bill will add to the deficit; there is little doubt about that, but the analysis could still be faulty, and saying so is serious.
Posted on 6/7/25 at 7:20 pm to PaperTiger
quote:
I mean whos right? The CBO or the OMB?
CBO says its adds $2.6 trillion to the deficit and the OMB says that the CBO is miscalculating big time. The difference between the 2 forecast is almost $9 trillion
The difference comes from the OMB adding a prediction about economic growth eventually leading to more tax revenue. So the CBO is just saying what the bill does, the OMB is adding a prediction about the effect of the bill in the future.
Posted on 6/7/25 at 7:20 pm to TBoy
quote:
We have to cut spending but there has to be some help on the revenue side of the balance sheet.
We’re not talking about a balance sheet.
Posted on 6/7/25 at 7:23 pm to PaperTiger
Can someone explain how the following makes sense?
If they assumed the tax cuts would expire wouldn’t that result in higher revenue and lower deficits?
quote:
So-called “forecasts” (including by the CBO) predicting higher deficits are based on a false assumption that President Trump’s 2017 tax cuts will expire.
If they assumed the tax cuts would expire wouldn’t that result in higher revenue and lower deficits?
Posted on 6/7/25 at 7:27 pm to cajunangelle
Only RINOs oppose this bill.
Posted on 6/7/25 at 7:29 pm to cajunangelle
Of course you would fall for this nonsense
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