When Bad Policy Makes Good Politics

Since the 1960s, America''s policymaking system has transitioned from one in which leaders like Lyndon Johnson could simply disparage the concept of budget projections to one in which policymakers consciously manipulate cost estimates. Paradoxically, the very safeguards put in place to thwart economically unsound legislation now cause chaos by incentivizing the development of flawed, even blatantl...