Many statists are worried that Republicans may install new leadership at the Joint Committee on Taxation (JCT) and Congressional Budget Office (CBO).
This is a big issue because these two score-keeping bureaucracies on Capitol Hill tilt to the left and have a lot of power over fiscal policy.
The JCT produces revenue estimates for tax bills, yet all their numbers are based on the naive assumption that tax policy generally has no impact on overall economic performance.
Meanwhile, CBO produces both estimates for spending bills and also fiscal commentary and analysis, much of it based on the Keynesian assumption that government spending boosts economic growth.
I personally have doubts whether GOPers are smart enough to make wise personnel choices, but I hope I’m wrong.
Matt Yglesias of Vox also seems pessimistic, but for the opposite reason.
He has a column criticizing Republicans for wanting to push their policies by using…
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