With the shoot the messenger management style. Will the BLS ever be trustworthy again? What happens to markets when we can't trust any government statistics.
> Instead of firing the commissioner, the president should be giving the agency a raise in the form of a bigger budget. The goal should be to restore public trust in government statistics, not undermine it.
When you believe that government should not be providing many services, or doing most of what it currently does overall, why would you want to bolster trust in government statistics? Those statistics might contradict the administration, which is not a goal of the administration and its backers.
That’s the point. When Trump disagrees with facts the facts must be destroyed. When people are actually trying to solve problems they desire more information, not less.
Should point out this is not the first time the BLS came under serious fire, politically. When the Republicans regained control of the Senate in 1995, they set up a commission (Boskin commission) that said inflation had been overstated, and henceforth cut Social Security cost of living adjustments.
don't you worry, people in the public sector who want everything to be private will make sure that the BLS becomes shit enough that the private alternative will end up being appealing, we've seen that millions of times before
With this and SCOTUS neutering Humphrey’s Executor (with Federal Reserve penumbras -- for now) I'm wondering if there will be a push in the future to establish a 4th branch (call it the deep state branch) to protect what should be non-political stuff like the federal reserve and BLS statistics. Like the judiciary, nominated by President, confirmed by the senate, funded by congress, impeachable, limited executive authority, etc.
Given the climate created by the TACO-ing over tariffs its not surprising that these numbers are inconsistent.
And Trump keeps rewriting history about the numbers impacting elections. The last number before elections were the Oct numbers released on 1-Nov-24. That was abysmal at 12k jobs. Trump even complained about in his campaign speeches. But never let truth stand in the way of Trump and his supporters.
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[ 2.8 ms ] story [ 37.6 ms ] threadIf no one needs some data doesn't that imply capturing it is a waste of time and energy?
When you believe that government should not be providing many services, or doing most of what it currently does overall, why would you want to bolster trust in government statistics? Those statistics might contradict the administration, which is not a goal of the administration and its backers.
I want a minimal government enforcing both internal and external property and ensuring private property rights are respected. And that's it.
The government debt is in the tens of trillions. Government deficit is more than a trillion.
No, more government and more government-loving propaganda is not what's needed.
The point being that revisions can be huge.
Given the climate created by the TACO-ing over tariffs its not surprising that these numbers are inconsistent.
And Trump keeps rewriting history about the numbers impacting elections. The last number before elections were the Oct numbers released on 1-Nov-24. That was abysmal at 12k jobs. Trump even complained about in his campaign speeches. But never let truth stand in the way of Trump and his supporters.
https://www.bls.gov/news.release/archives/empsit_11012024.ht...