In fact, Team Obama is basing their entire reelection strategy on...
I want to agree with Lurita, but two technical issues junp out at me. One, Did BLS really change the definition or the calculation of the unemployment rate? We have had U-6 for many years, we have measured labor force participation for many years. If BLS really bent to Obama's pressure, I am sure private economists could reconstruct it the old way. Second, government finances are not compiled under GAAP, which applies only to private businesses. Governments have their own set of accounting rules, which unfortunately do allow many future liabilities to grow off the books. But this has been the case for many years, at least back to the 1960's.
In January of 2009, Barack Obama promised Americans an "unprecedented" level of transparency in his dealings with the American people and throughout his Administration. Almost four years have passed since that promise, during which time, Americans have witnessed an extraordinary level of deception and obfuscation, all designed to divert attention from the Obama Administration's failure to grow the economy, their failure to create jobs, their failure to curb out-of-control government spending, and their failure to maintain American prestige on the international level.
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