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CBO Report Pre-Ordained To Show Stimulus Succeeded

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Posted on February 26 2010 6:00 am
Liz Blaine is a financial analyst, author and freelance writer on finance, economics and politics. Follow her on Twitter and her blog Liz Blaine.
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By: Brian Riedl

The Congressional Budget Office (CBO) has produced a new report estimating that the $862 billion stimulus has thus far saved or created 1.5 million jobs. Yet the CBO’s calculations are not based on actually observing the economy’s recent performance. Rather, they used an economic model that was programmed to assume that stimulus spending automatically creates jobs — thus guaranteeing their result.

Logicians call this the begging-the-question fallacy. Mathematicians call it assuming what you are trying to prove.

Read more at the National Review’s Corner

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