The report focuses on the accuracy of projections for fiscal year 2017—made about a year and half before the end of that fiscal year—and also makes comparisons with the accuracy of CBO’s corresponding projections for the 1993–2016 period.
The report focuses on the accuracy of projections for fiscal year 2017—made about a year and half before the end of that fiscal year—and also makes comparisons with the accuracy of CBO’s corresponding projections for the 1993–2016 period.
CBO’s March 2016 projections of federal outlays for fiscal year 2017 were $65 billion—or 1.6 percent—more than the actual amount reported by OMB. By comparison, the mean absolute error for projections made for 1993 to 2016 is 2.3 percent.
