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This NOT about the GM deal or the TARP or any other deal.
It is NOT a D or R thing.
It is about the gov't, from the CBO to the Treasuriury and all agencies in between, making predictions and are usually wrong. The data is constantly updated. From unemployment to costs.
"In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.
The government now expects to lose $57.33 billion, including the full cost of the housing program, up from $36.7 billion. The new estimate means the government doesn't believe it will make an overall profit on its bailouts."
From The Detroit News: Autos Insider | U.S. boosts estimate of auto bailout losses to $23.6B | The Detroit News (http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dtqS4CFy - broken link)
My question, with the gov't having such a poor track record should we hang their hats on gov't projections?
Government, by nature, is not there to make a 'Profit'... They are there, to spend your money and mine.
Thats thier sole intention... You make it, and give your portion to the Government, and they spend it as wildly as they choose!
When they had a deposite in Washington's Days, he simply said it will be carried over to our Children...
Hmmm .... A few Great Great Great Grandchildrens later and it only grows and grows, with the idiots, now, having a field day, and smorgasboard.
Dont think the President has no influence on the Treasurey Department, and his staff, will advise them on what numbers to come out at what times...(Mostly on a Friday, so, people will not pay attention to them, and its forgotten by most on Monday, because of 'new' News).
Nothing in Washington is done with out something to 'cause or provote' them, and there are too many influences on each faction of the Government, so that everything is intertwined, and no one is telling the whole truth from the start.
This NOT about the GM deal or the TARP or any other deal.
It is NOT a D or R thing.
It is about the gov't, from the CBO to the Treasuriury and all agencies in between, making predictions and are usually wrong. The data is constantly updated. From unemployment to costs.
"In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion.
The government now expects to lose $57.33 billion, including the full cost of the housing program, up from $36.7 billion. The new estimate means the government doesn't believe it will make an overall profit on its bailouts."
From The Detroit News: Autos Insider | U.S. boosts estimate of auto bailout losses to $23.6B | The Detroit News (http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dtqS4CFy - broken link)
My question, with the gov't having such a poor track record should we hang their hats on gov't projections?
Do they have any credibility?
[/LEFT]
The government is run by bureaucrats and politicians, who are not any smarter then you or I, in fact the bureaucrats are most times dumber, because they are appointed to their positions due to political connections or for ideological reasons.
Neither bureaucrats or politicians are required to be good at their jobs, because there is no one to hold them directly accountable. Look how they have messed up so many federal programs. The politicians and bureaucrats put the country $15 trillion into debt, has anyone gone off to prison for squandering our taxpayer dollars, or are they screaming to spend more, and tax us more??
Well, IMO, CBO has a better track record than Heritage Foundation. Would that count?
CBO claimed 0bamaCare would lower costs, create jobs, increase the amount of Americans that are insured, and save money, Heritage predicted increased costs, loss of jobs and loss of coverage, which one was more accurate again?
Now, Gallup reports that from the first quarter of 2010 (when Obama signed Obamacare into law) to the third quarter of this year, 2 percent of American adults lost their employer sponsored health insurance. In other words, about 4.5 million Americans lost their employer-sponsored insurance over a span of just 18 months.
This is not what the Congressional Budget Office (CBO) had predicted would happen. Rather, the CBO had predicted that Obamacare would increase the number of people with employer-sponsored insurance by now. It had predicted that, under Obamacare, 6 million more Americans would have employer-sponsored insurance in 2011 than in 2010 (see table 4, which shows the CBO’s projected increase of 3 million under (pre-Obamacare) current law and an additional 3 million under Obamacare). So the CBO’s rosy projections for Obamacare (and even these paint a frightening picture (http://www.pacificresearch.org/docLib/20091123_Senate_Bill_Cost_Chart.pdf - broken link)) are already proving false.
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