CBO has it wrong, but under the gentleman's proposal CBO would have it even more wrong and we would have even higher deficits.
William Orton: “CBO has it wrong, but under the gentleman's proposal CBO would have it even more wrong and we would have even higher…”
Editor's note · Context
Discussing the implications of a proposal on budget deficits.
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More from William Orton
Just in response to my friend who just mentioned that it was the President who asked for this, yes, the President asked for line-item veto. The President did not ask for line-item veto to be until after the new year of 1997. It was offered…
We did not get any money to build a road to a ski resort in Utah as they did in Pennsylvania.
What this chart shows is that in each year, the CBO has underestimated deficits up until 1993, which they overestimated the deficit. About half, look at 1990, they underestimated the deficit by $119 billion. Half of that was revenue.
There is a question whether the current law does apply to contract authority, which is the issue I am raising, and that is why I wish for the chairman to be on record.





