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And every election season, pollsters are greeted with charges that their estimates are wrong.
"Usually my estimates are wrong, but I tell you I call them as good as some of them on TV," he said, chuckling.
Even if its estimates are wrong, they are binding on Congress, which generally must find ways to pay the costs of legislation as estimated by the budget office.
What lucky Treasury Department employee gets the job of estimating all of these variables, and then facing the consequences if those estimates are wrong?
If the estimates are wrong by different rates in different countries, however, the model will break.
Those estimates are wrong, says epidemiologist Allen Wilcox of the National Institute of Environmental Health Sciences in Durham, North Carolina.
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He added: "Fundamentally the cost estimates were wrong".
The estimates were wrong in 2004, there's little reason to think they will be right this time.
A Bank of America spokeswoman, Eloise Hale, said the analysts' estimates were wrong but declined to be more specific.
Opponents protested that the cost estimates were wrong, that the incentives amounted to corporate welfare and that companies did not need government incentives to invest.
The state treasurer, Michael O'Brien, criticised the report on radio station 3AW, saying it was written by a "bunch of left-wing academics with a huge anti-road agenda" and that their estimates were wrong.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com