More Frankenquester follies

Do you think we should fact check Maxine Waters? Congresswoman Maxine Waters (D-CA) claimed today that "over 170 million jobs" could be lost due to sequestration. Later in the presser, Rep. Waters corrected herself, saying it was only "750,000 jobs" that could be lost. Even 750,000 is almost certainly an exaggeration. Most of the angst comes from the threat that lots of jobs will be lost because of the "cuts" that will be triggered. Of course, in reality, America is not facing "cuts" at all, but merely a cut in the increase in spending this year by the federal government. Interested parties cannot even agree on how many jobs will "be lost." According to Macroeconomic Analysis LLC, it will be 700,000 jobs. The report which is cited hedges its bets by using the word "could." That could translate to 700,000 jobs lost (including reductions in the armed forces) and the possibility that higher unemployment 'would linger for several years,'" according to the...(Read Full Post)