Visualizing rose colored glasses in budgeting

  • By John Wilkerson
  • 4 March, 2013
  • Comments Off on Visualizing rose colored glasses in budgeting

budget

http://www.nytimes.com/interactive/2010/02/02/us/politics/20100201-budget-porcupine-graphic.html

This lovely interactive graphic illustrates how OMB economic forecasts have consistently overestimated economic growth and, as a consequence, consistently underestimated deficits.

It offers more information than, for example, a regression model demonstrating that budget forecasts tend to be overly optimistic.

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