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I mean federal deficit forecast -- Washington abuzz yesterday and how Wall Street markets gene to thinking candidates now sells.
-- -- hear the numbers and why they are routinely ignored it.
865 billion while right you thought.
That anything below.
A trillion being old Saint Louis federal government took a question mr.
Yeah I'm really happy and that -- that could not.
Like it was -- night.
Yeah related but I did I thought about that stuff so here's the deal that same -- the Federal Reserve and Pepperdine.
Looked at prior CBO forecast the debt spending.
Did this how this is how much they CBO was off in prior year deficit forecast from 2002 to 2011 they were off by eleven point eight trillion blocks just know the words.
This -- intimate little not happen anyway so -- -- -- at that time this figure 171000.
Two that we did the US to be in the black spot.
By five point six -- in the black by five point six trillion.
By play eleven it was in the red by six point two chilling and there are receiving in are also saying that.
These analysts at Saint Louis Federal Reserve -- all are also saying that look at this watch the GDP growth that they projected out -- and 2011 they said US GDP will be 3.4 op I'm we end this year -- -- -- to 2013.
That's with the with the forecast and -- eleven now it's one point four is what they're saying.
So -- the issue is is that routinely deceived you gets it wrong the problem is the CBO numbers under paying tax and regulatory policies.
So there's such shaky numbers and a big problem for the CBO it is hamstrung by law.
And -- still look at these DC policies as if they're going to be in place.
Year after -- -- -- -- another yes that's right that can't predict the economy I sure but they can't.
And it if they're trying to predict the economy for the -- at India based on these static models and so.
They cannot predict -- DC policy makers are going to do or fed reserve officials the reality check.
Looks like it has spent -- CB -- the CBO -- Look at we do -- Published an alternative fiscal scenario you can look at but nothing as some think the real -- the real well but you're right but they also said that unemployment this year would be yes it should point four yeah -- -- be north of seven point five so I'm saying hey wait a second what's the CBO numbers we shouldn't take them that.
Heart so much and you know just look behind the numbers -- what's.
And -- and we should ask my kids you'll get better numbers out of that and but not a -- you know I'm sure -- -- Coming up the changing.
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