For those of you who haven't heard, the GOP-leaning pundits and bloggers are attempting to claim that the economy isn't bad by using the supposedly rosier (therefore, of course, better; after all, Bush
can't be residing over poor economic news, right?) picture painted by the household survey.
Well, it's now been debunked.
Some highlights:
Federal Reserve Chairman Alan Greenspan has noted that the Payroll survey is much more reliable than the household survey.
The BLS has now formally resolved the Household/Payroll Survey discrepancy. Let's see who has the intellectually honesty to step up to the plate with a big mea culpa.
Amen, brother. I'm going to have to start frequenting yet another blog.
From The Big Picture, via ArgMax.