Trust Us; We Know How to Make Projections

Published March 4, 2014 2:21pm ET



The administration has produced a budget that includes various predictions not least of which concerns GDP growth. The White House, as Jeffry Bartash of Marketwatch reports, is looking for sunny days ahead and:

… expects the economy to expand at a 3.1% annual pace this year, compared to a mediocre 1.9% increase last year, according to budget documents released Tuesday. If the forecast is on target, it would mark the first time the U.S. has grown 3% or more in nine years.

Having been in power for a while now, the administration has a track record when it comes to estimates of this sort.  One that does not inspire confidence.

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