By Newt Gingrich (Original source Fox News)
“Imagine there is a group of people in Congress with more influence over whether laws are passed and rules are changed, than any official committee or subcommittee in the House and Senate.
Now, imagine the members of this powerful group are not even members of Congress – in fact, they’re not elected officials at all.
Finally, imagine this group operates in secret, refuses to explain its decisions in detail to anyone, and has shown a consistent bias against free market principles.
Unfortunately, you don’t have to imagine this scenario. It’s part of the sad reality of trying to govern in Washington under the influence of the Congressional Budget Office (CBO).
The CBO is tasked with providing budgetary and economic analysis about the impact of proposed legislation or rules issued by executive branch agencies. It is technically a nonpartisan agency, but it has historically shown a bias toward a left-wing economic worldview through its use of static scoring. This method assumes little to no behavior changes from market players due to changes in law.
Here’s a look at the CBO’s recent track record with scoring major legislation.”
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