Monday , October 25 2021
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Let CBO estimate before you legislate

Summary:
In my recent Times column on the expanded social safety net, the following passage was cut in the editorial process, but it is an important point, which I am afraid is being lost in the Congressional rush to get something done:Team Biden says they won’t pass the bill onto future generations in the form of higher public debt. Whether that’s true is hard to say. The Congressional Budget Office and Joint Tax Committee have not yet scored the bill because it hasn’t been written. Let’s hope that Congressional leadership is patient enough to let the scorekeepers do their jobs before bringing the legislation up for a vote.

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In my recent Times column on the expanded social safety net, the following passage was cut in the editorial process, but it is an important point, which I am afraid is being lost in the Congressional rush to get something done:

Team Biden says they won’t pass the bill onto future generations in the form of higher public debt. Whether that’s true is hard to say. The Congressional Budget Office and Joint Tax Committee have not yet scored the bill because it hasn’t been written. Let’s hope that Congressional leadership is patient enough to let the scorekeepers do their jobs before bringing the legislation up for a vote.

Greg Mankiw
I am the Robert M. Beren Professor of Economics at Harvard University, where I teach introductory economics (ec 10). I use this blog to keep in touch with my current and former students. Teachers and students at other schools, as well as others interested in economic issues, are welcome to use this resource.

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