1st order of Business by the GOP...Change the Accounting rules to - TopicsExpress

1st order of Business by the GOP...Change the Accounting rules to confuse the public. BTW Ryan is right, BUT for the WRONG REASONS: Congressional Budget Office and Joint Committee on Taxation (CBO and JCT, respectively) do not include in their official revenue and cost estimates possible “macroeconomic feedback” effects on the budget due to changes in the overall level of economic activity that might result from proposed legislation — and there are good reasons why. First, estimates of the macroeconomic effects of tax changes are highly uncertain. Second, the most credible estimates usually show changes that are quite small. Finally, and quite importantly, dynamic scoring would impair the credibility of the budget process because the resulting budget estimates will inevitably be controversial and subject to political manipulation.

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