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Why Did the Penn Wharton Budget Model Start? with Wharton Prof. Kent Smetters

October 10, 2023 / 00:37

This episode discusses the Pen Wharton budget model, its origins, and its impact on legislative analysis. Key topics include the need for early budget analysis, the role of Congress, and the effects of legislation on the economy and people.

The conversation highlights how members of Congress sought a tool that could provide budgetary and economic analysis during the drafting of legislation. This need arose from a desire to understand the potential impacts before finalizing bills.

Listeners will learn about the motivations behind the creation of the Pen Wharton budget model and how it aims to inform legislators about the consequences of their decisions.

TLDR

The episode covers the origins and purpose of the Pen Wharton budget model for early legislative analysis.

Episode

0:37

00:00:00

so pen Wharton budget model started about 7 years ago how did it get started and what was the Genesis of the idea

00:00:06

behind it yeah it was really members of Congress who I already was having conversations with they really wanted a

00:00:14

analysis not after they wrote the legislation not after it went to a chairperson they wanted analysis at the

00:00:21

very beginning while they're actually writing legislation so they wanted to know what was the effects before they

00:00:26

put their reputation on the line what's the effects on the budget what's effect

00:00:30

on the economy what's the effect on people

Episode Highlights

The Genesis of the Idea
The concept originated from Congress members seeking early analysis for legislation.
“They wanted analysis at the very beginning.”
@ 00m 21s
October 10, 2023

Episode Quotes

They wanted analysis at the very beginning.
Why Did the Penn Wharton Budget Model Start? with Wharton Prof. Kent Smetters
What’s the effect on the budget?
Why Did the Penn Wharton Budget Model Start? with Wharton Prof. Kent Smetters

Key Moments

Congressional Conversations00:08
Legislative Analysis00:21
Budget Effects00:26