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

Journal of Economic Perspectives: Vol. 14 No. 3 (Summer 2000)

Expand

Quick Tools:

Print Article Summary
Export Citation
Sign up for Email Alerts Follow us on Twitter

Explore:

JEP - All Issues


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

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)

JEL Classifications

H61: National Budget; Budget Systems

Comments

View Comments on This Article (0) | Login to post a comment


Journal of Economic Perspectives


Quick Tools:

Sign up for Email Alerts

Follow us on Twitter

Subscription Information
(Institutional Administrator Access)

Explore:

JEP - All Issues

Virtual Field Journals


AEA Member Login:


AEAweb | AEA Journals | Contact Us