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11/21/08

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Statistical Mishmash Muddles Unemployment Rates
By John Lott, Jr.

It is puzzling. The unemployment rate keeps on falling, but there don’t seem to be any new jobs. The press reports on “America's struggling job market,” while from June to December last year the unemployment rate fell from 6.4 to 5.7 percent.

We are said to be in a “jobless recovery.” Supposedly, the unemployment rate keeps falling because people have simply given up looking for jobs. However, the real answer is quite simple: numbers are being mixed and matched from different sources with little notion of how they are calculated.

The Department of Labor provides two different sets of labor market statistics: the Establishment Survey and the Household Survey. The Establishment Survey polls 400,000 companies on how many employees they have. The Household Survey questions 60,000 households each month on whether they have jobs and whether someone is looking for one. (Read the rest here)

G.W. Bush: International Racketeer
Oil Robber Barons
By Ted Lang © 2003

CBS’s “60 Minutes” featured former Treasury Secretary Paul O’Neill in an exclusive interview with CBS News Correspondent Lesley Stahl, which aired Sunday, January 11th. The interview confirms what those who primarily rely on the Internet for up-to-date, accurate and to-the-point news coverage have known for almost over a year: the Bush administration had planned the illegal, unconstitutional and unnecessary invasion of Iraq completely independent of any retaliatory or preventive military considerations relating to 9-11. In fact, this interview, motivated to launch a new book authored by Ron Suskind, a former Wall Street Journal reporter, not only confirms the heavy evidence concerning the administration’s underlying intentions with regard to Iraq, but raises some scary new ones as well. (Read the rest here)

To The Moon On A Magic Carpet
By Ed Henry

We don't need a spacecraft for the next trip to the moon. We can build a staircase out of the national debt.

We hit the seven trillion dollar mark on the last day of the calendar year for 2003, the first quarter of the government's fiscal 2004, a full $606 billion over the same day one year ago—a new record for the world's greatest debtor nation.

If someone had set aside $9,575,000 a day from the time of Christ, the beginning of the Gregorian calendar, we would have been able to pay off America's national debt on the same day—happy new year.

Or we could have given $50,725 to every working American—the people who pay taxes and are currently responsible for paying off this debt. No wonder Bush wants to bring more people into this country. Any good rancher wants to increase his herd. (Read the rest here)

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