Remember when Jack Welch said this?
Well he took a lot of heat over this and even though I was suspicious of the sudden drop in the unemployment rate (right before the 2012 Presidential election), I didn’t think even Team Obama could sink to this level of moral ineptitude. And there were plenty of articles stating that it was ‘impossible’ to fake the Bureau of Labor Statistics (BLS) monthly jobs reports. See here, here and here.
But now we have a new report from the NY Post claiming Mr. Welch was right.
In the home stretch of the 2012 presidential campaign, from August to September, the unemployment rate fell sharply — raising eyebrows from Wall Street to Washington.
The decline — from 8.1 percent in August to 7.8 percent in September — might not have been all it seemed. The numbers, according to a reliable source, were manipulated.
And the Census Bureau, which does the unemployment survey, knew it.
Just two years before the presidential election, the Census Bureau had caught an employee fabricating data that went into the unemployment report, which is one of the most closely watched measures of the economy.
And a knowledgeable source says the deception went beyond that one employee — that it escalated at the time President Obama was seeking reelection in 2012 and continues today.
Now this is early and the details of this report have to be vetted but if, and it’s a big if, this is true then I will join the chorus of folks who have been calling for Obama’s impeachment.
This is wrong on so many levels. Forget about the fact that this manipulation more than likely turned the 2012 Presidential election. The monthly jobs data drives the Stock Market and now you’re messing with peoples’ 401k balances. The FED bases their policy decisions, in large part, on the Unemployment data. Companies make strategic decisions on the health of the economy and the BLS data is a big piece of this.
This alleged manipulation of one of the more sacred economic variables is very serious.
If this isn’t grounds for impeachment then the United States doesn’t deserve to survive.