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I am equally concerned by the application of secret simulation models by organizations like the Congressional Budget Office for fiscal policy decision making. O
by matthjensen 9y ago
I am equally concerned by the application of secret simulation models by organizations like the Congressional Budget Office for fiscal policy decision making. Our legislators rely on models that even they do not have access to when writing spending and tax laws.
- creaghpatr 9y agoThe CBO estimations compared to the actuals speak for themselves. I find it hilarious when venture capitalists cite CBO forecasts on twitter when, in the real world, if you brought that kind of data into a startup pitch it would get laughed out of the room. https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/theapothecary/2017/01/02/learning-from-cbos-history-of-incorrect-obamacare-projections/ https://www.forbes.com/forbes/welcome/?toURL=https://www.for... ^I don't mean to pick on the ACA either this applies to virtually all CBO estimations.
- xxpor 9y agoBecause it turns out that the modeling the CBO has to do is WAY harder than what your typical startup has to worry about.