Hoo Boy

According to the Bureau of Labor Statistics, September’s Official Unemployment Rate (U-3) dropped to an appalling 7.8%. The alternative Unemployment Rate (U-6) now stands at 14.7%. These numbers ought to cause the government to hang its head in shame. But such is the viciousness of America’s economic and political elite that we can read reports like this:

Conspiracy theorists came out in force after the government reported a sudden drop in the U.S. unemployment rate one month before Election Day. Their message: The Obama administration would do anything to ensure a November victory, including manipulating unemployment data.

The vociferous theorists included Jack Welch, a retired General Electric CEO, and Allen West, the Florida Congressman who believes Congressional Democrats are Communists and whom the Army forced into retirement because he tortured an Iraqi prisoner.

Believing the BLS report to be good news is a sign of moral stupidity.