The latest CBO projections for the US government deficit. Note the break in the y-axis. The report came out today.
Wednesday, January 26, 2011
US Revenues and Outlays
The latest CBO projections for the US government deficit. Note the break in the y-axis. The report came out today.
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3 comments:
How accurate have CBO projections been in the past?
Paul: not very. Like most mainstream economic thinkers, they tend to miss the big turning points.
I guess I should add that my expectation is that the 2011 prediction will be in the ballpark since they have a lot of visibility there. But I bet they aren't thinking about the likelihood of a big oil price shock in the 2011-2013 time frame, and the effects that will have on the country.
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