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!
In the business sector, the administration’s policies have also raised a lot of concerns. Many small businesses, the backbone of the American economy, are struggling to survive in an environment burdened by regulatory overreach, high taxes, and labor shortages.
Moore underscores how the administration’s multi-trillion-dollar spending packages and regulatory frameworks have done little to spur sustainable growth. Instead, they have inflated asset bubbles, worsened the national debt, and contributed to the erosion of the dollar’s value as we see countries such as Russia, India, Brazil and others no longer using the U.S. dollar as their trading benchmark.
For businesses trying to navigate these economic waters, the message from Washington often feels tone-deaf and detached from the real challenges they face. How can the Biden-Harris administration tell the American people that our economy is strong when everything costs more for the average American and business owners?
It is my belief that at the core of this issue is the administration’s reliance on top-down, government-driven solutions to economic problems, while ignoring the voices of everyday Americans and entrepreneurs. By continuing to push policies that increase federal control over the economy, Biden and Harris have distanced themselves from the free-market principles that allow innovation and competition to thrive. Moore argues that the administration’s priorities seem more focused on maintaining power and crafting favorable media narratives than addressing the deep-rooted economic issues confronting working and middle-class Americans.
Conservatives have long advocated for greater transparency and accountability from federal agencies, particularly when it comes to economic data. Moore’s critique isn’t just about the accuracy of the numbers; it’s a call for a more honest government that acknowledges the reality of economic hardship, rather than attempting to mask it with political spin.
Now is the time to demand real leadership that prioritizes the well-being of all Americans, not political survival. I don’t think I’m alone with this belief.
Bob Rubin is the Founder and President of Rubin Wealth Management. Learn more at www.rubinwa.com.
The views and opinions expressed in this commentary are those of the author and do not reflect the official position of the Daily Caller News Foundation.
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