Predicting the 1990s

Robert Eisner in 1993:

The Office of Management and Budget, in its final document released by President [George H.W.] Bush, offered “baseline” deficit estimates grounded on the relatively pessimistic economic outlook of 51 private “blue chip” forecasters. They foresaw real GDP growth of only 3% in 1993, 2.9% in 1994, and then down to 2.5% from 1995 to 1998; unemployment was still projected at 5.7% for 1998.

Sounds like the same sort of unimaginative estimates we've seen over the last few years, estimates that cannot foresee real GDP growth above 2%. Meanwhile, we're seeing 4%.

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See also mine of March 2016, predicting vigor due to low (but rising) financial cost.