Understanding the Federal Deficit, Part 1: How Forecasters Get It Wrong

Publication Date: January 1984

Publisher: Heritage Foundation (Washington, D.C.)

Author(s): Thomas M. Humbert

Research Area: Banking and finance

Keywords: Budget

Type: Report

Abstract:

In order that the public be protected from policies based on flimsy forecasts, every congressional initiative or Administration budget request based on an economic forecast should be accompanied by the track record of the forecasting agency. In this way Americans could judge how much credence to place in the predictions underpinning the legislation being passed in their name.