Thursday, February 2, 2017

Will GDP and Unemployment Numbers Be Credible Under Trump?

On the evening of September 1, 2011, I had the unpleasant task of delivering the confidential August jobs report to President Obama before it would be made public the next day. "I don't like the look on your face," I remember the president saying to me in the Oval Office. "The job number is zero," I said. "Zero?" he asked. "What do you mean, ‘zero'?" "The payroll jobs data is zero," I replied. Incredulous, the president asked, "You mean it is exactly zero? Like, if I took that paper out of your hand and looked at it, I would just see a zero?" "Yes," I replied with a wince. "Has that ever......(read more)
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