A regression at the occupation level weighted by current employment finds that growth projections are somewhat weaker for jobs with more observed exposure. For every 10 percentage point increase in coverage, the BLS’s growth projection drops by 0.6 percentage points. This provides some validation in that our measures track the independently derived estimates from labor market analysts, although the relationship is slight. Interestingly, there is no such correlation using the Eloundou et al. measure alone.
CRFB and other fiscal watchdogs argue that a credible deficit reduction plan remains the only viable off-ramp — one that would put debt on a sustainable path, ease pressure on interest rates, and prevent the interest bill from ultimately devouring the budget entirely. So far, Washington has not produced one.
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