#CBO Sees Greater #Risk That #Treasury Will Run Out of #Funds in Early June - Because tax receipts through April have been less than the #CongressionalBudgetOffice anticipated in February, we now estimate that there is a significantly greater risk that the Treasury will run out of funds in early June. We are providing this information in response to questions from lawmakers about our projections of revenues for the current year and the implications for the #debtceiling. https://www.cbo.gov/publication/59119?stream=top

Today edition of the *Prospect* continues the series with an essay by #ElizabethWarren, describing how her proposal for #UniversalChildCare was defeated by the incoherent, deeply political assumptions of the #CongressionalBudgetOffice's model, blocking an important and popular policy simply because #ComputerSaysNo:

https://prospect.org/economy/2023-04-04-policymakers-fight-losing-battle-models/

3/

Two of these if-I-were-a-horse models reign invisibly and totally over our daily lives: the #CongressionalBudgetOffice model and the #PennWhartonBudgetModel. Every piece of proposed government policy is processed through these models, and woe betide the policy that the model condemns. Thus our entire government is conducted as a giant, semi-secret game of #ComputerSaysNo.

15/

#CBO: U.S. Could Default on #Debt Between July & September https://politicaliq.com/2023/02/15/cbo-u-s-could-default-on-debt-between-july-september/ #DebtLimit #DebtCrisis #CongressionalBudgetOffice #politicaliq #news #politics