Numbers Racket - playing games with govt economic statisticsQuicklink submitted by Josh Mitteldorf Permalink
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|Kevin Phillips, a died-in-the-wool Republican, details some of the ways that the definitions of the most important government economic statistics have changed to serve the short-term interests of the White House occupant at the time. Affected are GDP, unemployment, and inflation rates. Every administration since Reagan has partaken. We are poorer and in more debt, with less options for repaying it, than we have been told.|
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