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Wall Street Journal Calls Jobs Numbers "Phony" - Mike Swanson (06/09/09)

Submitted by Mike Swanson on Tue, 2009-06-09 08:10.

In a lead editorial in the Wall Street Journal today the nation's most important financial newspaper calls the jobless numbers "bogus."

In the editorial William McGurn writes, "Never mind that no one -- not the Labor Department, not the Treasury, not the Bureau of Labor Statistics -- actually measures "jobs saved." As the New York Times delicately reports, Mr. Obama's jobs claims are "based on macroeconomic estimates, not an actual counting of jobs." Nice work if you can get away with it."

McGurn claims that Obama is claiming to save 150,000 jobs over a period of time thanks to his stimulus program while the real economy losses ten times those numbers of jobs.

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