CBO Admits that 1.5 Million ‘Stimulus Jobs’ Estimate Ignored Deepening Recession, Misspent Funds
Brian Riedl /
A few weeks ago, I posted that CBO’s estimate that the stimulus created saved 1.5 million jobs was not based on any actual examination of the post-stimulus economy. Instead, CBO essentially re-released their initial prediction that the stimulus would work, and presented that as proof that it did work.
This is like a weather forecaster saying that the high yesterday was 65 degrees, because that is what had been predicted — even though it actually never topped 50 degrees. (more…)