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Scary Thought For The Day


On almost every level, we are making national economic policy on the basis of problematic data and inadequate models Government numbers are always estimates and always wrong – often dramatically, as when the 'non-partisan' Congressional Budget Office forecast a ten-year cost for Medicare which was utilized for legislation, then 're-calculated' at 33% higher – only another $200 billion. The real problem is ...that decisions to commit literally trillions of dollars are based on assumptions which are usually wrong and often irrelevant.



 
 
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