Monday, August 4, 2008

On errors in forecasting ...

In February of this year, the Bush administration projected a $407 BN dollar budget deficit. Now, six months later, they project a $490 BN dollar budget deficit. That's equivalent to a company missing its earnings estimate by 20% in just six months! To put this estimation error in perspective, they missed the number by $83,000,000,000, and, that too, after failing to include the roughly $120 BN - $150 BN that's the likely 2008 bill for the Iraq war. Where's the accountability? Meanwhile, you have presidential candidates promising tax cuts??? Do you believe them?

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