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Podcast: Planet Money
Episode: CBOhhhh, that's what they do
Description: If you are a congressperson or a senator and you have an idea for a new piece of legislation, at some point someone will have to tell you how much it costs. But, how do you put a price on something that doesn't exist yet?Since 1974, that has been the job of the Congressional Budget Office, or the CBO. The agency plays a critical role in the legislative process: bills can live and die by the cost estimates the CBO produces.The economists and budget experts at the CBO, though, are far more than just a...