The big news today is that The nonpartisan Congressional Budget Office reports that the American Recovery and Reinvestment Act of 2009, better known as the stimulus bill, has created millions of jobs and in fact has had an even bigger economic impact than expected.
If you actually read the report, you will find some troubling statements, including:
Estimating the lawâ€™s overall effects on employment
requires a more comprehensive analysis than the recipientsâ€™
reports provide. Therefore, looking at recorded
spending to date as well as estimates of the other effects of
ARRA on spending and revenues, CBO has estimated the
lawâ€™s impact on employment and economic output using
evidence about the effects of previous similar policies on
the economy and using various mathematical models that
represent the workings of the economy.
I’m sure every democrat from Obama down will be screaming to the heavens about what a wonderful job they did.Â Perhaps I missed something, but the phrase various mathematical models could mean just about anything they want it to mean.Â It appears that an old adage applies here – Figures don’t lie, but liars do figure!