09-18-2017, 02:27 PM
(09-18-2017, 02:16 PM)michaelsean Wrote: Is the CBO limited to the data they are given, or can they make their own forecasts both on what they believe actual costs will be, and what they believe the future of the economy will be?
So, they do their own forecasting based on what they perceive to be the actual costs and what the economy will look like. They have particular methods that they use to come up with their estimates, much like think tanks such as Heritage or CAP have their own methods that result in more skewed results. As with any forecasting, they make a lot of assumptions, but those assumptions are based on years of experience.
