BOB RUBIN: Time For An Honest Government That Acknowledges The Reality Of Economic Hardship

In his recent op-ed for the Daily Caller, highly respected economist Stephen Moore raises a critical concern: Washington may be manipulating economic data to present a more favorable picture of the U.S. economy than the reality on the ground. I raised a similar issue in the Daily Caller on Sept. 1.

The Bureau of Labor Statistics (BLS) had to revise U.S. employment figures downward by a staggering 818,000 jobs. This revision, which covers the 12 months ending in March 2024, is one of the largest since the 2008 financial crisis.

Moore’s argument echoes a broader sentiment from the American people — that the federal government, particularly under the Biden-Harris administration, has a vested interest in shaping narratives to maintain power, especially as elections approach.

Moore points to a growing disconnect between the inflation and employment statistics released by government agencies and what many Americans are experiencing in their daily lives. He questions whether these discrepancies are due to innocent miscalculations or, more alarmingly, deliberate attempts to obscure the truth.

This skepticism is not unfounded; political history is rife with examples of governments using selective data to create a narrative that serves their own political survival, often hiding or downplaying inconvenient economic realities.

The Biden-Harris administration, in particular, appears increasingly out of touch with both the American people and the business community. While administration officials tout inflation as “cooling” and point to marginal job growth, many Americans continue to feel the squeeze of rising prices, wage stagnation and a soaring cost of living. The middle class in America is hurting!