CBO's Budget and Economic Outlook: 2009-2019
The Congressional Budget Office recently published testimony entitled, The Budget and Economic Outlook: 2009-2019. We've been critical of the CBO's TARP accounting, but the budget outlook report contains some interesting economic data series.
We disagree, however, with the CBO's estimate that the economy will grow by 1.5% in 2010. This strikes us as too optimistic given the enormity of the challenges before us and the negative cascading effects that have yet to play out.