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Welch Conspiracy Theory on Jobs Data Not Tied to Reality

Bloomberg by Hans Nichols, Lorraine Woellert | Oct. 7, 2012 (News Analysis)

A good conspiracy theory is irrefutable. A bad one usually collapses when confronted by reality.
The claim by some supporters of Republican challenger Mitt Romney that President Barack Obama’s Chicago-based campaign doctored September’s unemployment figures for political gain fall into the second category, according to members of both parties who have served in the government’s economic data system. Full Story »

Posted by Pamela Hogle

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Sirajul Islam
4.2
 by Sirajul Islam - Oct. 7, 2012

An excellently written and researched report by Hans Nichols and Lorraine Woellert of Bloomberg. Sources of the story is highly diverse and credible and enough references and links were given to make the report a gold standard.

"The people who compile the numbers “are professionals and do this as a career. I have a lot of respect for them.” -Doug Holtz-Eakin, economist for the Council of Economic Advisers under President George W. Bush and the policy director for McCain’s 2008 campaign.

“He wouldn’t put anything past this administration. He was not enough of an economist to interpret the jobs data.” – McCain, the Republican presidential nominee four years ago said when asked about Welch’s assertion on CNBC this afternoon,

“There’s no politics that goes into these numbers at all. The way the U.S. collects economic statistics is viewed around the world as the gold standard.” – Bernard Baumohl, chief global economist at Economic Outlook Group LLC in Princeton, New Jersey.

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