Tuesday, February 2, 2010

Obama's Growth Projections in the Budget

Bob Murphy points out:
Here's a scary summary: "The White House budget proposal released Monday assumes the U.S. economy is heading for a six-year run of above-average economic growth with no sign of a worrisome spike in inflation or interest rates." And it's not as if, in exchange for such rosy scenarios, the White House forecast shows balanced budgets as far as the eye can see...
Of course, Murphy is very right to be concerned. There is no way there will be anything like that kind of growth. I doubt they can even get manipulated numbers that high.

1 comment:

  1. Simple solution: doctor inflation stats. Hide real inflation by 5% and watch record levels of GDP get reported...
    When revenues (tax) fail to rise accordingly, you blame someone else then raise their taxes.