The CBO Is Almost, But Not Quite, Useless

Updated on

Economist Paul Krugman is well-known for his pro-Democrat stances. Recently, he’s claimed that the Congressional Budget Office (CBO) has said that if the Individual Mandate portion of the Affordable Care Act, often called Obamacare, is repealed, 22 million Americans will “lose” their health insurance. What he doesn’t say is that the vast majority of those 22 million people are simply opting out. They are choosing not to have health insurance. But here’s the problem with CBO forecasts: they’re usually wrong.  And they’re wrong in almost the exact same way. Why are the CBO forecasts so bad? Why do they consistently get it wrong in such a consistent way? And what does this mean for our economy? James Harrigan and Antony Davies discuss this and more in this week’s episode of Words and Numbers.


Subscribe to the Word and Numbers podcast via iTunes.

Quick hits

Emirates’ new 777

Curing disease by rewriting our DNA

In a First, Scientists Try to Edit Faulty DNA Inside Patient’s Body to Cure Genetic Disease

iHeart Radio

Jeff Sessions on Marijuana:

Sessions: DOJ looking at ‘rational’ marijuana policy

Foolishness of the Week

NY Times: Republican Tax Bill Moves Closer to Senate Passage


Follow us on Twitter

James R. Harrigan

Antony Davies

Join the Words and Numbers Backstage FB group, where the conversation continues

Antony Davies

Antony Davies

Antony Davies is associate professor of economics at Duquesne University and Chief Academic Officer at FreedomTrust.

He is a member of the FEE Faculty Network.

This article was originally published on Read the original article.


Leave a Comment