The CBO has another report out on ARRA. Every few months, this comes out, and every few months, a bunch of commentators treat this as if this were an empirical analysis, rather than a case of the CBO sticking the numbers back into the same model, re-running them, and conclusively proving that . . . their model still generates the same results. Because I believe in gains from trade, I outsource the snark to the Official Asymmetrical Information Spouse:
Once again, the Congressional Budget Office reruns the same models that it used to estimate that the stimulus would create jobs and finds that, to the surprise of no one, that the model still says that the stimulus creates jobs. Hooray for the stimulus! Nevermind that the CBO's director has confirmed that these reports do not serve as independent checks on the real-world effects of the spending, it's news!
No criticism of the CBO is implied; they do what they are legally required to do. But given that this has now happened several times, I'm disappointed that we're still seeing commentators treat these reports as if they involved new research.
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