Biden-Harris Jobs Boast Tanks

Lost in CR chaos is new data suggesting the Biden-Harris job numbers were way overstated, yet used to argue Bidenomics was the greatest thing to happen to the economy since sliced bread. My, how moldy they got after the election!

As the Fox News op ed suggested, “voters intuitively knew better [and] no number of headlines in The New York Times or excited rants on cable news shows could convince them that America’s economy is running strong.”  The critical piece cites a new report by the Federal Reserve Bank in Philly that Bureau of Labor Statistics overestimated employment in 25 states in the second quarter of 2024 & lead up to the November presidential election. While the White House had boasted it had engineered a 1.8% increase in employment, the Philly Fed now thinks they were off by as much as 1.9 percentage points. If true, the inflated employment figure could result in a swing “by as many as 3 million jobs.”

Mistakes, of course, happen in any bureaucracy. It’s also natural for bureaucrats wishing their incumbent boss well at election time & subconsciously forecasting government stats in you know who’s favor. But, as the op ed notes, even a blind guide would not likely be off by this much. Especially, when the last time a big “adjustment” happened was curiously in the months before the mid-term congressional elections. We surely want to believe our Swamp. But, save the crocodile tears, just get it right in real time.

Davd Soul