Government Prediction That Hurt Us All
Just like everything else in life when we are given incorrect information from what we thought of trusted sources we can make huge mistakes in our decisions.
That not only goes for our personal lives but also for government.
We keep hearing about the Congressional Budget Office (CBO) and how they are an unbiased source, that may be true but when they are wrong time after time when are we going to stop believing them or using their information to help formulate our opinions.
This time the CBO's predication about Obamacare was wrong and when I say wrong I do not mean by a little bit. The CBO’s 2009 analysis predicted that individual insurance premiums would increase 10 to 13% by the year 2016. They were off by roughly 90%. The Department of Health and Human Services reported last week that premiums have doubled from 2013 to 2017 on average.
That is not the only prediction the CBO was off by huge margins. The CBO predicted in 2010 that 32 million uninsured Americans would have health insurance if the Obamacare legislation was passed. Well they were only off by 60%. According to the National Center for Health Statistics only 20 million people bought the health insurance. Of those 20 million most where thrown off their private health insurance plans.
Need another one. The CBO predicted that 23 million people would be enrolled in Obamacare exchanges by 2017, according to CNN Money 12.2 million have enrolled.
My point is not to point out how poorly the CBO scores these bills it is that whether their number is positive for your cause or negative they should not be used to formulate your opinion. The CBO is given a huge task and that is to determine cost and enrollment with the bad numbers they are given and a world that does not conform to a theory.
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