"Government officials measure and report on the federal budget using different baselines and techniques that can create honest confusion about the effect of a proposed policy.... Two distinct agencies provide budget estimates: the Office of Management and Budget (OMB) provides budget analysis for the president, and the Congressional Budget Office (CBO) provides analysis for Congress. Each agency uses something called a baseline, which projects the current level of spending into the future. Each baseline incorporates assumptions about inflation and other economic variables. OMB's baseline, also known as current service estimates, covers five years while CBO's baseline budget projections cover ten years. Policy, budget proposals, and legislation are "scored" in reference to one or the other baseline. The normal procedure assigns a score based on the impact of the policy, proposal, or legislation over the full period of the baseline used." Accountability Citizenship, by Stephen P. Tryon, Xlibris 2013, p. 44.
Well, if the government is involved in the transaction, it depends on which agency is involved and which baseline they are using.
"Government officials measure and report on the federal budget using different baselines and techniques that can create honest confusion about the effect of a proposed policy.... Two distinct agencies provide budget estimates: the Office of Management and Budget (OMB) provides budget analysis for the president, and the Congressional Budget Office (CBO) provides analysis for Congress. Each agency uses something called a baseline, which projects the current level of spending into the future. Each baseline incorporates assumptions about inflation and other economic variables. OMB's baseline, also known as current service estimates, covers five years while CBO's baseline budget projections cover ten years. Policy, budget proposals, and legislation are "scored" in reference to one or the other baseline. The normal procedure assigns a score based on the impact of the policy, proposal, or legislation over the full period of the baseline used." Accountability Citizenship, by Stephen P. Tryon, Xlibris 2013, p. 44.
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AuthorAuthor of Thy King Dumb Come and Accountability Citizenship, Stephen P. Tryon is a businessman and technologist with extensive experience in e-commerce, a retired Soldier, and former Senate Fellow. Categories |