CBO Cruising for a BBB Bruising?

Letter to Ephesians: The nation’s budget forecasting is an art as much as science but, geez, can CBO ever get it right when helping judge impact of mega-legislative proposals? Take Trump’s BBB that MAY yet generate trillions in surplus. Or not ...

Wishful thinking of critics and supporters of BBB aside, the Fox Business op ed by Peter Navarro puts holes in the CBO warnings of a coming deficit inflation as if made of Swiss cheese. As the WH senior counselor for trade pointed out via Fox, the CBO projections don’t bother to account for possible “dynamic growth effects and tariff revenue” in the historic legislation recently enacted. The purposeful oversight or omission smacks of malpractice when it’s considered the stakes involved and as liberal media outlets like CNN, MSNBC, NY Times & WaPo keep insisting as if a given the BBB will add “trillions” to our national debt.

Explained Mr. Navarro: “For years, the CBO has been trapped in a stale left-wing Keynesian mindset &

stubbornly committed to static scoring models that fail to grasp how real-world economies respond to bold, pro- growth policies. As someone who has witnessed Pres. Trump craft his economic agenda from inside the West Wing, I can tell you firsthand [that] when you cut taxes, slash job-killing regulations, achieve energy dominance, defend America’s manufacturing base with tariffs and fight for fair [reciprocal] trade, the economy doesn’t just inch forward – it takes off.” And historically, the argument goes, so does federal revenues.

Davd Soul