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Politics : The Trump Presidency -- Ignore unavailable to you. Want to Upgrade?

To: i-node who wrote (66370)	4/12/2018 2:16:35 PM
From: Steve Lokness	Respond to of 362322

Haha, and if history is any indication, any mistakes here might way underestimate the amount of debt. We are due for an economic downturn which could make even the dire predictions rosy in hindsight. This is where most economist have it wrong; they do not get the cyclic nature of economics. That economics needs downturns to reset economic normalcy. Read up on the Chicago School to understand the thought here. Krugman rabidly attacked the thought of Chicago School - but since he has came out so vocally against it just about everything Krugman predicted based on his thought has been wrong.

To: i-node who wrote (66370)	4/12/2018 7:45:41 PM
From: combjelly	Read Replies (2) \| Respond to of 362322

Dynamic scoring is pretty worthless. Kansas used it to predict the results of their tax cuts. Their dynamic scoring indicated that the tax cuts would result in significant windfalls for the state. Their model was so far off as to be laughable if the results weren't so dire. The problem with dynamic scoring is that a reasonable model has to be generated as to the effects of the changes. And there just isn't a good, objective way to do it. Unfortunately, a lot of the economic theories that proponents of dynamic scoring want to use don't actually work in the real world. So their models are nothing like the real world.