Tuesday, September 2, 2014

Congressional Budget Office drops 2014 GDP estimates

The Congressional Budget Office (CBO) is fairly well known as being a completely neutral arbiter of monetary research for the government and overall economy.  Yet when the CBO came out in January to announce that the 2014 GDP would be as high as 3.1%, that neutrality was quickly brought into question and many began to wonder if they were becoming a new office of propaganda for the Obama administration.

Well, it only took about six months before reality showed up and on Aug. 27, the CBO changed course and published a new GDP estimate that is just a little different than what they projected back in January.  In fact, the new projection is more than 50% lower than previously estimated.

Read more on this article here...


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