Word: cbo
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...that they have a CBO analysis which has made them "giddy," in the words of House majority whip Jim Clyburn, it clears the way for a vote as soon as Sunday afternoon on the Senate health-reform bill and a package of changes to the legislation assembled by House Democratic leaders. Indeed, the momentum seemed to be shifting as the day went on. In the wake of the positive CBO evaluation, Democratic Representatives Betsy Markey and Bart Gordon - who voted against an earlier House reform bill - committed to supporting the newly unveiled legislation. Also on board Thursday were members...
...breed, says Norm Ornstein, a congressional scholar at the conservative American Enterprise Institute. "The Congressional Budget Office at times experiences the same position where the majority has an incredibly strong imperative and there's a lot of pressure. The difference is you can't fire the head of the CBO," Ornstein says. "Parliamentarians are unique unto themselves. They're steeped in Senate arcana. And their jobs depend on their integrity...
...built on budget and succeed, the funds would be reimbursed to taxpayers. But some environmentalists point out that there's a reason no American nuclear plants have been built in more than three decades: the projects tend to be hit with construction delays, and the Congressional Budget Office (CBO) estimates that the risk of default on a new nuclear plant is higher than 50%. In a conference call with reporters, Energy Secretary Steven Chu seemed unaware of the CBO report, although he downplayed the fiscal risk. "Even Wall Street traders say these reactors are too risky to invest in," said...
...with the health care plan in deep political trouble, the focus for both Congress and the White House is shifting from expanding government to shrinking it. Lawmakers will again turn to the CBO for an honest assessment of what actually cuts the deficit and what merely pretends to. Elmendorf is the first to concede that even the most sophisticated CBO microsimulation model is not the same thing as a crystal ball. "We tell people all the time that our results are very uncertain," he says. "Every number that we give needs to be viewed as the middle of a fairly...
...Translation: The CBO may not always be accurate, but it's as close as Washington is ever likely...