In January 2001,the Congressional Budget Office (CBO)projected a Budget Surplus

In January 2001,the Congressional Budget Office (CBO) projected a budget surplus of nearly $6 trillion over the next 10 years,but it never materialized.According to the textbook,what does this erroneous projection imply?

A) Forecasting 5 or 10 years into the future is very difficult.
B) The CBO produces politically biased forecasts.
C) The forecasters at the CBO provide less accurate estimates than would forecasters in private practice.
D) Long-term forecasts are more accurate than short-term forecasts.