Note Well:
This blog is intended for rational audiences. Its contents are the personal opinions of its author. If you quote from this blog, which you
may do with attribution, please assume personal accountability for any consequences of mischaracterizing these expressed intentions.

Wednesday, July 22, 2009

Who are these morons?

Related Link » Saving Healthcare

“This short spot contains some humorous moments from Monday's healthcare forum with Russ Carnahan. It concludes with TheBlackSphere.net--Kevin Jackson--asking: ‘If it's so good why doesn't Congress have to be on it’?”

h/t Secular Apostate
Another clueless Congressman touts $6 Billion savings out of an expenditure estimated in the neighborhood of $1.5 Trillion! This bit of noise amounts to 6/1500 or 0.4%. And, of course, it implies that Congressional wizards are capable of projecting healthcare costs, or any other government costs for that matter, to much better than 1% accuracy over the course of a decade!

Since one decade's total-expenditure estimates for health care reform have been quoted within $½ Trillion of $1.5 Trillion, the real "accuracy" of such guesstimates is around 50% (most likely much worse, given their political incentive to under-predict costs). The discrepancy between this real "accuracy" and the implicit accuracy of the ridiculous claim is two orders of magnitude, which is like claiming a penny saved in a transaction that is quoted to the nearest dollar. This would have made the $6 Billion-saving claim ridiculous even if it had been made by a high-school dropout.

Post #859 Who are these morons?

No comments:

Post a Comment