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is cbo a reliable source.

is cbo reliable

  • im right wing and i think its inaccurate

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  • im liberal and i think its inaccurate

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  • why should i care

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beerftw

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in another thread another user touts cbo as extremely reliable and undisputable,since congress,the most hated and unreliable part of our govt,uses it for all insight.

my question is,can an organization that can be refuted by any independant organization and itself be reliable????cbo has said stimulous spending would hurt our economy,they have said not introducing stimulous will hurt our economy.they have said deficit reduction will hurt our economy,they have said obamacare will cost america 4 million jobs.


at the same time they said obamacare will save us money,then break even,then say it will cost us hundreds of bilions,then over a trillion,then came back and said it will save us money??????????????????



can an organization so inconsistent on predictions and so often proven wrong be considered accurate??????
 
Yes the CBO is a reliable source.
 
i am asking opinions,but how can an organization that debunks itself be accurate???

"CBO relies on the rich data sources from the government’s statistical agencies. Those sources include the national income and product accounts, the census of manufacturers, the Statistics of Income database, the Current Population Survey, and various national health surveys. CBO also uses information provided by relevant government agencies and industry groups to meet specific needs. In addition, the agency seeks outside experts’ advice on specific analytic matters, such as the outlook for agricultural production, spending projections for Medicare and Medicaid, and business prospects in the telecommunications industry."

"Yes. We are required as a matter of law to disclose the basis for each of our cost estimates. We follow that same practice for our analytic studies.

CBO employs standard methods of economic and budgetary analysis. To answer many questions, the agency develops analytic models or uses models available from others. CBO also closely follows professional developments in economics and related disciplines, and we consult regularly with outside experts in a broad range of relevant fields for guidance on ongoing work."

"In preparing its cost estimates and other analyses, as required by law or requested by Members of Congress, CBO uses data and other information from a wide variety of sources, consults with outside experts representing a variety of perspectives, and applies a rigorous internal review process that involves multiple people at different levels in the organization. All of CBO's formal written cost estimates and analyses of budgetary and economic issues are delivered to all interested parties simultaneously and posted on the agency’s website."

"All CBO estimates and reports are reviewed internally for objectivity, analytical soundness, and clarity. CBO’s reports are also reviewed by outside subject matter experts. In addition, the agency has a Panel of Economic Advisers and a Panel of Health Advisers. Those groups—whose membership includes previous CBO directors, other distinguished economists, and acknowledged experts in health care—meet to review the agency’s economic forecasts and to advise the agency on its analyses of health care issues. Although such experts provide considerable assistance, CBO is solely responsible for the accuracy of its work."

CBO | our processes
 
Other. It's only as reliable as the data provided to them, if someone wants to skew the data all they would have to do is issue a shortened report, or withold some data.
 
"CBO relies on the rich data sources from the government’s statistical agencies. Those sources include the national income and product accounts, the census of manufacturers, the Statistics of Income database, the Current Population Survey, and various national health surveys. CBO also uses information provided by relevant government agencies and industry groups to meet specific needs. In addition, the agency seeks outside experts’ advice on specific analytic matters, such as the outlook for agricultural production, spending projections for Medicare and Medicaid, and business prospects in the telecommunications industry."

"Yes. We are required as a matter of law to disclose the basis for each of our cost estimates. We follow that same practice for our analytic studies.

CBO employs standard methods of economic and budgetary analysis. To answer many questions, the agency develops analytic models or uses models available from others. CBO also closely follows professional developments in economics and related disciplines, and we consult regularly with outside experts in a broad range of relevant fields for guidance on ongoing work."

"In preparing its cost estimates and other analyses, as required by law or requested by Members of Congress, CBO uses data and other information from a wide variety of sources, consults with outside experts representing a variety of perspectives, and applies a rigorous internal review process that involves multiple people at different levels in the organization. All of CBO's formal written cost estimates and analyses of budgetary and economic issues are delivered to all interested parties simultaneously and posted on the agency’s website."

"All CBO estimates and reports are reviewed internally for objectivity, analytical soundness, and clarity. CBO’s reports are also reviewed by outside subject matter experts. In addition, the agency has a Panel of Economic Advisers and a Panel of Health Advisers. Those groups—whose membership includes previous CBO directors, other distinguished economists, and acknowledged experts in health care—meet to review the agency’s economic forecasts and to advise the agency on its analyses of health care issues. Although such experts provide considerable assistance, CBO is solely responsible for the accuracy of its work."

CBO | our processes

that still doesnt adress the fact they have proven themselves wrong numerous times,as well as independant sources.also cbo as dont quite a few 180's which leads me to believe partisan support,changing depending on the years.


its like saying your accountant is right because he is by regs,even though he has gotten everything wrong 20 years in a row.
 
that still doesnt adress the fact they have proven themselves wrong numerous times,as well as independant sources.also cbo as dont quite a few 180's which leads me to believe partisan support,changing depending on the years.


its like saying your accountant is right because he is by regs,even though he has gotten everything wrong 20 years in a row.

What do you mean the debunk themselves? The CBO debunks congress accusations all the time.. Is that you mean? Cuz they do...
 
that still doesnt adress the fact they have proven themselves wrong numerous times,as well as independant sources.also cbo as dont quite a few 180's which leads me to believe partisan support,changing depending on the years.


its like saying your accountant is right because he is by regs,even though he has gotten everything wrong 20 years in a row.

Any group that does projections will have to as a necessity change their projections as the data changes. Projections are never 100 % reliable.

What the CBO is is the most reliable, but hardly infallible, source of information. The fact that the CBO does in fact correct their findings when the data changes is an indication of their relative reliability. I answered your poll as "other", since no group is 100 % reliable, however, I trust CBO findings over most groups.
 
What do you mean the debunk themselves? The CBO debunks congress accusations all the time.. Is that you mean? Cuz they do...

cbo has made estimates for obama care costs from saving money to costing us over a trillion,their estimates are so far out of whack with eachother that its like saying russia is anywhere from 1-20,000 miles away,therefore im right.

better they have debunked themselvesmon obamacare multiple times,they have came up with 2 opposites on stimulous spending,they have said obamacare would cause america to lose 4 milion jobs,even through conservative obamacare hating math thats really farfetched.

not to mention i have never seen any math showing how cbo gets its results,if they disclose it,its obviously somewhere in the swiss alps in a library.
 
Any group that does projections will have to as a necessity change their projections as the data changes. Projections are never 100 % reliable.

What the CBO is is the most reliable, but hardly infallible, source of information. The fact that the CBO does in fact correct their findings when the data changes is an indication of their relative reliability. I answered your poll as "other", since no group is 100 % reliable, however, I trust CBO findings over most groups.

they havent changed their data for bush tax cuts since 2003,using 2001 gdp and refuse to account variables or growth,i dont call that accurate,icall it lazy accounting.
 
cbo has made estimates for obama care costs from saving money to costing us over a trillion,their estimates are so far out of whack with eachother that its like saying russia is anywhere from 1-20,000 miles away,therefore im right.
They changed their projections.. Projections are estimates. Therefor they can be wrong or right. And as stated earlier data changes...


better they have debunked themselvesmon obamacare multiple times,they have came up with 2 opposites on stimulous spending,they have said obamacare would cause america to lose 4 milion jobs,even through conservative obamacare hating math thats really farfetched.

not to mention i have never seen any math showing how cbo gets its results,if they disclose it,its obviously somewhere in the swiss alps in a library.

You do realize that the organizations makes projections... PROJECTIONS....
 
Is the CBO reliable?

I'd say sometimes it is, sometimes it isn't.

A lot of it depends on the constraints put on it by congress. When making their economic forecasts the factors they are allowed to take into account are constrained by congressional mandate.
 
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They changed their projections.. Projections are estimates. Therefor they can be wrong or right. And as stated earlier data changes...




You do realize that the organizations makes projections... PROJECTIONS....

but how are projections off but such extreme degrees,obviously it either shows incompetence or extreme bias depending on who cinducting what.between saving us hundreds of billions to costing us over a trillion even for a projection,then back again all in in less thn 4 years,shows extreme incompetence among their math.
 
but how are projections off but such extreme degrees,obviously it either shows incompetence or extreme bias depending on who cinducting what.between saving us hundreds of billions to costing us over a trillion even for a projection,then back again all in in less thn 4 years,shows extreme incompetence among their math.

How is it "incompetence" or "bias" when they change the projections?
You do realize its a non-partisan organization?
 
How is it "incompetence" or "bias" when they change the projections?
You do realize its a non-partisan organization?

they change projections as often as romney flip flops,how is that not innaccurate,especially since until the supreme court ruling,nothing in obama care changed,yet cbo findings 180'd eachother constantly.how can results vary so much from something that hasnt changed.

on another note how can you call an organization that estimates a reliable source????
 
in another thread another user touts cbo as extremely reliable and undisputable,since congress,the most hated and unreliable part of our govt,uses it for all insight.

my question is,can an organization that can be refuted by any independant organization and itself be reliable????cbo has said stimulous spending would hurt our economy,they have said not introducing stimulous will hurt our economy.they have said deficit reduction will hurt our economy,they have said obamacare will cost america 4 million jobs.


at the same time they said obamacare will save us money,then break even,then say it will cost us hundreds of bilions,then over a trillion,then came back and said it will save us money??????????????????



can an organization so inconsistent on predictions and so often proven wrong be considered accurate??????

LOL What this, you're going to try prove the CBO wrong by consensus? ROTFL
 
LOL What this, you're going to try prove the CBO wrong by consensus? ROTFL

naw im trying to see how the community feels through the poll.

i dont need a poll to know cbo is wrong,which for being bipartisan thus far only liberals have defended.

i seriously stopped using it as a source reguardless on whether it agrees with me or not a few months ago,because everything i saw posted was debunked.
 
cbo has made estimates for obama care costs from saving money to costing us over a trillion,their estimates are so far out of whack with eachother that its like saying russia is anywhere from 1-20,000 miles away,therefore im right.

better they have debunked themselvesmon obamacare multiple times,they have came up with 2 opposites on stimulous spending,they have said obamacare would cause america to lose 4 milion jobs,even through conservative obamacare hating math thats really farfetched.

not to mention i have never seen any math showing how cbo gets its results,if they disclose it,its obviously somewhere in the swiss alps in a library.

PolitiFact Florida | TV ad says health law's cost is $2 trillion, 'double what we were promised'

Actually, only part of the health care law -- the gross costs -- could cost up to $1.76 trillion. That’s only a slight increase from what was originally promised -- not close to double.
 
they havent changed their data for bush tax cuts since 2003,using 2001 gdp and refuse to account variables or growth,i dont call that accurate,icall it lazy accounting.

Has congress asked them to? CBO | our processes

Basically, if congress has not asked them to go back and look, they won't.
 
naw im trying to see how the community feels through the poll.

i dont need a poll to know cbo is wrong,which for being bipartisan thus far only liberals have defended.

i seriously stopped using it as a source reguardless on whether it agrees with me or not a few months ago,because everything i saw posted was debunked.
The interesting thing about the CBO is that whenever they don't back up one sides arguement, then of course they must be biased and wrong. You are good example of this in action.
 
Has congress asked them to? CBO | our processes

Basically, if congress has not asked them to go back and look, they won't.

that proves even further their math is inaccurate,

ill gladly take them as a source for estimates,but not for a source of facts.

estimates are easily disproven,facts are not,i started this thread because someone called cbo reliable and accurate and undisputable.
 
that proves even further their math is inaccurate,

ill gladly take them as a source for estimates,but not for a source of facts.

estimates are easily disproven,facts are not,i started this thread because someone called cbo reliable and accurate and undisputable.

Actually it does not. You are claiming the cost, which in this case is gross cost, and comparing with with the old cost which was net cost. Their numbers actually changed very little percentagewise.
 
The interesting thing about the CBO is that whenever they don't back up one sides arguement, then of course they must be biased and wrong. You are good example of this in action.

quite funny,they have backed liberals and conservatives on and off,as pointed out oin the op and after.

you just proves you read the title and decided your own opinion without reading what was said.
 
Actually it does not. You are claiming the cost, which in this case is gross cost, and comparing with with the old cost which was net cost. Their numbers actually changed very little percentagewise.

so saving money to costing over a trillion is net vs gross,sounds like extreme incompetence.

again this organization said obamacare will cost 4 million jobs,enough to cause a chain reaction and throw us into a depression,how can you call that accurate??????????
 
so saving money to costing over a trillion is net vs gross,sounds like extreme incompetence.

again this organization said obamacare will cost 4 million jobs,enough to cause a chain reaction and throw us into a depression,how can you call that accurate??????????

If something has a cost of 1 dollar, and a savings of a buck and a quarter, it saves money, but costs a dollar. See the problem. A bunch of savings and revenue increasers where included in ACA to offset to total cost and make it save money(over 10 years). SO when you say they projected it saving money it was figuring both halves into the equation. When you say costing over a trillion, you are figuring just one side of the equation in.
 
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