WASHINGTON (AP) — The Congressional Budget Office (CBO) is once again at the center of controversy, facing harsh criticism amid a summer dominated by discussions on significant tax breaks and spending cuts. Leaders from the Republican party have aimed their frustrations at the CBO, with Speaker Mike Johnson labeling it as notorious for getting it wrong while President Donald Trump dismissed the agency as very hostile towards his administration.
Director Phillip Swagel, who has been with the agency since 2019, maintains that the criticism is part of the terrain of providing unbiased economic analysis. We’re just trying to get it right and inform the Congress and the country, Swagel shared in a recent interview. The CBO's mission is to provide nonpartisan reports on the impacts of legislation, a responsibility fraught with political implications as both major parties frequently dispute its findings.
Swagel's approach, characterized as low-key yet diligent, reflects his experience across various governmental roles in both Democratic and Republican administrations. He emphasizes the accuracy of the CBO's work despite the surrounding noise. Sometimes it’s just noise, but the important thing is that we focus on getting our work done correctly, he stated.
Among the challenges for the CBO are the substantial economic alterations in recent times, including new tariffs and tax policy shifts implemented during the Trump administration. These changes complicate the CBO’s traditional models of economic evaluation. Swagel noted that the sweeping tariff policy is unlike anything seen in over a century and raises concerns about its long-term economic effects.
Despite the tumult, Swagel asserts that his office's data is essential in guiding policymakers through today's complex fiscal landscape, aiming to cut through the political rhetoric and deliver the facts to Congress—unfiltered and objective.
As the CBO navigates these challenges, the importance of unbiased and accurate economic analysis remains clear—players in the political arena may view the data through their biases, but the CBO stands as a critical resource for factual assessments, especially in moments of fiscal uncertainty.
