Giant Ball of Oil

After millions of laughs, the Heritage Foundation has completely wiped clean its model predicting an astronomically low unemployment rate used in the GOP budget plan. As Krugman notes, their wild-eyed Fantasy World math is down the memory hole never to be mentioned again. In its place they've posted new models trending unemployment at 4.27%.

Though the new magic number is easier to believe, Heritage is playing it off as it being no big deal that they have doubled their projected unemployment rate.

Via Weigel: "'We adjusted the full employment unemployment variable," said Beach. "Nothing else changes as a result of that, but the employment number changes.'"

Nothing else changes? You just doubled your unemployment rate and you suggest doing so doesn't change anything when it comes to the federal budget?  No change in tax revenue?  No change in inflation?  Incredible.  It's as if pushing this giant ball of oil out the window is really going to solve everything.