Recession Or No Recession? Once Again Our Leaders Have Failed Us

As America struggled through the worst economic recovery in history in 2009, the Obama administration made the decision to abandon outdated economic measurements and create a new, non-falsifiable figure that would better serve the president. So, “saved and created” employment were introduced to us. Every month, an administration economist would provide this fictitious statistic—which had never been used by the Labor Department, Treasury Department, Bureau of Labor Statistics, or anybody else—while feigning expertise. And the political media would obediently and uncritically report on it each month. In the next two years, according to Obama, his recovery plan will “save or…