Before delving into whatever one party or the other gleans from the CBO Economic Forecast, let’s go back to the CBO outlook for 2008 (http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/89xx/doc8917/01-23-2008_budgetoutlook.pdf).
In 2008, the CBO stated that, “For the medium-term period (2010 through 2018) “CBO also projects that the unemployment rate will average 4.8 percent.”
In its 2014 budget outlook, (http://www.cbo.gov/sites/default/files/cbofiles/attachments/45010-Outlook2014.pdf) it states that, "...the unemployment rate will decline gradually but remain over 6.0 percent until late 2016."
In 2010, the report stated, “Even though output began to grow during the second half of 2009, the unemployment rate continued to rise reaching 10.1 percent in October, (http://www.cbo.gov/sites/default/files/cbofiles/ftpdocs/108xx/doc10871/01-26-outlook.pdf.)
Each of these reports reminds readers in one fashion or another that the projections are based on IF THINGS STAY THE SAME. For instance, in this year’s report, it is stated, “Many developments, such as changes in laws governing federal fiscal policy and unforeseen changes in business’ confidence, the economies of other countries, interest rates, stock prices, and the availability of mortgage credit could cause economic outcomes to differ substantially, in one direction or the other from those the CBO has projected."
Got that? While useful in terms of what DID happen, when it comes to the magic eight-ball, predictions are all over the place, even from the same outfit.
OK, so could Obamacare cost jobs? Who knows. Certainly lenient outsourcing laws that have made jobs mover overseas have not helped. Likely amnesty programs essentially wiping the illegality of certain individuals in the country and putting them on equal footing with citizens in the job market won't help. It’s all political posturing presented by people who couldn’t even bother to read through a law they passed to tell us what to expect from Obamacare, you know something that is in existence that they didn’t need to “predict” about.
It is noteworthy that regardless of expense of different programs, including Veterans benefits also recommended for slashing in the report, addressing the costs of healthcare as a major part of the problem of the rising amounts laid out for healthcare is mentioned but has no solution offered.
It would be nice to see that issue addressed besides saying that if we can’t prevent people from getting sick we are unable to address the ridiculously high medical charges we are billed in this country. These charges are NOT just a drain on the government money but on individual pocketbooks as you can see by searching "2012 (yes, there’s always lag on statistics) US spends two-and-a-half times the OECD average per capita", public and PRIVATE money.
The value of the publication is in terms of its reporting rather than its predicting. As we know, our government spends much money and time collecting information and when a report is produced, it tends to be thorough. So, essentially we can look at what's reported and dismiss the partisan antics that are put forth regarding predictions and what needs to be done regarding those.
