As Republicans prepare to take control of both chambers of - TopicsExpress

As Republicans prepare to take control of both chambers of Congress for the first time in a decade, a fight is brewing over who should head up the Congressional Budget Office. CBO is an obscure agency that acts as referee on the budgetary impact of all spending and tax bills. The office is supposed to be accurate and impartial, but of late its been neither. It relies on a Keynesian economic model that predicts spending and government action help stimulate the economy. It also built into its models a pro-tax bias that fails to take account of the negative economic impact of tax hikes. In short, its a garbage-in, garbage-out model. To win the budget battles to come, Republicans have to change the people and models at CBO that have driven federal fiscal policy over a cliff - as evidenced by our $18 trillion national debt. CBOs 200 employees view government as stimulus rather than an inhibitor to growth and prosperity. When government is scored as a benefit to the economy, is it any wonder it keeps growing and growing? news.investors/ibd-editorials/120414-729167-supply-side-ideas-get-no-hearing-at-congressional-budget-office.htm?p=full

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