This setting lets you change the way you view articles. You can choose to have articles open in a dialog window, a new tab, or directly in the same window.
Open in Dialog
Open in New Tab
Open in same window
Open in New Tab
Open in same window
Journal of Economic Perspectives: Vol. 14 No. 3 (Summer 2000)
JEP Volume. 14, Issue 3 | 
Previous ArticleNext Article
Sign up for Email Alerts Follow us on Twitter
Full-text Article (Complimentary)
View Comments on This Article (0) | Login to post a comment
Previous ArticleNext Article
Expand
Quick Tools:
Print Article Summary Email Link to this Article Export CitationSign up for Email Alerts Follow us on Twitter
Explore:
The Tyranny of Budget Forecasts
Article Citation
Foster, J. D., and
James C. Miller. 2000. "The Tyranny of Budget Forecasts."
Journal of Economic Perspectives,
14(3): 205-215.
DOI: 10.1257/jep.14.3.205
DOI: 10.1257/jep.14.3.205
Abstract
The evolving federal budget process has placed increasing demands on, and given unique powers to, the economic forecasters at OMB, Treasury, CBO, and the Joint Tax Committee of Congress. On the whole, the forecasters have been highly professional in their work, but differences in estimating techniques and, especially, constraints imposed on their analysis by elected officials have limited their credibility. Both the Administration and Congress "game" the system and even ignore the budget rules when convenient. Thus, a sophisticated budget process can help, but cannot assure, sound fiscal policy in the absence of political will to make hard decisions.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Foster, J. D. (Tax Foundation, Washington, DC)
Miller, James C. (Citizens for a Sound Economy Foundation and George Mason U)
Miller, James C. (Citizens for a Sound Economy Foundation and George Mason U)
JEL Classifications
H61: National Budget; Budget Systems
Comments
View Comments on This Article (0) | Login to post a comment
