Congressional Budget Office Figures

The CBO or Congressional Budget Office can become a major tool of foolish shenanigans in Congress if taken out of context. Thanks to the media which never explains, exactly, what the auditing function of the CBO is.

The CBO does the bookkeeping for Congress. It calculates whatever Congress puts before it to calculate. If congressmen put in garbage, the CBO turns out garbage. The CBO gives no opinions or interpretation. Congress has lied about its numbers in the past and the CBO had to report the same lies.

So look to figures from Congress for their validity before you have them validated by the CBO. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)