February 1, 2013 by toddvoge
Jobs report came out today and the unemployment rate ticked up to 7.9%. There were 157,000 jobs added to the economy during the month. Now, the press is showing that there was job growth and all is good.
Of course if this were a Republican administration, the press would be all over how the rate went up and we ONLY added 157,000 jobs. I just find the incongruity interesting.
What I really love to hear is how this administration has “added over 2,000,000 jobs since coming in to office.” But this is where the math doesn’t work. There are actually 8,000,000 fewer workers in the workforce because they can’t find work and have just given up. So, in the real world, that would mean we are still down 6,000,000 jobs. But in the eyes of the administration and the media, they’ve added 2,000,000 more.
It’s kind of like when Progressives cry over “cuts” to the budget. But yet, the budget continues to rise. How is this possible? Well, the budget the federal government uses is called “baseline” budgeting. This means, the budget STARTS at the same amount it was the year before. So, when they decide to increase that baseline by 2% instead of 10%, the Progressives call that an 8% cut to the budget.
Government math is so much different than the real world. I wish I could use their methods on my own budget. But, of course, I can’t print my own money (legally) so it won’t work for me.