{"id":18631,"date":"2023-09-04T22:34:56","date_gmt":"2023-09-05T02:34:56","guid":{"rendered":"https:\/\/jimbovard.com\/blog\/?p=18631"},"modified":"2023-09-05T12:51:59","modified_gmt":"2023-09-05T16:51:59","slug":"n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts","status":"publish","type":"post","link":"https:\/\/jimbovard.com\/blog\/2023\/09\/04\/n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\/","title":{"rendered":"N.Y. Post: The media is finally waking up to the sham stats behind Biden\u2019s economy boasts"},"content":{"rendered":"<p>New York Post, September 5, 2023<\/p>\n<h1 class=\"headline headline--single\"><a href=\"https:\/\/nypost.com\/2023\/09\/04\/the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\/\">The media is finally waking up to the sham stats behind Biden\u2019s economy boasts<\/a><a href=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-18634 size-medium\" src=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies-407x800.jpg\" alt=\"\" width=\"407\" height=\"800\" srcset=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies-407x800.jpg 407w, https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies-520x1024.jpg 520w, https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies-76x150.jpg 76w, https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies.jpg 556w\" sizes=\"auto, (max-width: 407px) 100vw, 407px\" \/><\/a><\/h1>\n<p>by James Bovard<\/p>\n<p><strong>How could Washington\u2019s \u201cbest and brightest\u201d be so clueless for so long?<\/strong><\/p>\n<p>After perennially and uncritically repeating <a href=\"https:\/\/nypost.com\/2023\/09\/04\/biden-boasts-about-cutting-deficit-as-it-soars\/\">President Biden\u2019s false claims about cutting the federal budget deficit<\/a>, The Washington Post admitted Sunday that Biden will double the deficit this year to $2 trillion.<\/p>\n<p>The paper\u2019s elite editors and reporters are mystified that \u201cU.S. deficit explodes even as economy grows.\u201d <strong>But did the Beltway get suckered on a Biden boom that exists largely due to sham statistics?<\/strong><\/p>\n<p><strong>Cynics now claim that the Commerce Department no longer refers to its Bureau of Economic Analysis but instead to Biden\u2019s Economic Alterations.<\/strong><\/p>\n<p><strong>Americans have seen years of bait-and-switch statistics \u2014 glorious job-growth numbers followed by downward revisions long after the victory lap.<\/strong><\/p>\n<p><strong>Almost all the \u201cerrors\u201d in federal economic reports have been biased in Biden\u2019s favor.<\/strong><\/p>\n<p><strong>How much of recent economic growth has been a statistical mirage or a political fraud?<\/strong><\/p>\n<p><a href=\"https:\/\/www.washingtonpost.com\/business\/2023\/09\/03\/us-debt-deficit-rises-interest-rate\/\" target=\"_blank\" rel=\"noreferrer noopener\">The Washington Post laments <\/a>that \u201cthe surge in red ink has confounded many economists\u2019 expectations.\u201d<\/p>\n<p>This brings to mind President Harry Truman\u2019s quip: \u201cGive me a one-handed economist! All my economists say \u2018on the one hand . . . [and then] on the other.\u2019 \u201d<\/p>\n<aside class=\"single__inline-module alignright\">\n<div class=\"inline-module inline-module--related-post\">\n<div class=\"inline-module__inner\">\n<h2 class=\"inline-module__heading widget-heading widget-heading--underline\">o<\/h2>\n<div class=\"story story--i-flex story--i-flex-none-sm\">\n<div class=\"story__image\"><\/div>\n<h3 class=\"postid-28574503 story__headline headline headline--xs inline-module--related-post__headline\"><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>Maybe DC needs economists who look at something aside from presidential press releases \u2014 such as the ledgers of federal outlays and revenue.<\/p>\n<p>Federal spending increased 16% in fiscal year 2023 \u2014 at the same time tax revenue plunged by 7%. Soaring budget deficits should be a surprise only to people who failed arithmetic in fifth grade.<\/p>\n<p>The Biden Deficit Explosion changes the storyline on the<a href=\"https:\/\/nypost.com\/2023\/06\/04\/moderates-win-on-debt-ceiling-despite-bidens-obstructionism\/\"> spring debt-ceiling showdown.<\/a><\/p>\n<p>At the time that compromise was brokered, House Speaker Kevin McCarthy boasted, \u201cThe systemic reforms we set in place mark the beginning of historic change in Washington.\u201d<\/p>\n<p>But as former Republican Rep. Justin Amash observed, \u201cBiden got the biggest win in the \u2018deal\u2019 with a debt limit suspension .\u2009.\u2009. until 2025. The rest is smoke and mirrors.\u201d<\/p>\n<p><strong>Naming that deal the Fiscal Responsibility Act was a legislative disgrace for a bill that authorized perpetual trillion-dollar deficits. <\/strong><strong>Luckily for Congress, budget deals are not covered by federal regulations prohibiting financial fraud.<\/strong><\/p>\n<p><strong>Government spending equals power for politicians. Asking politicians to reduce spending is like asking a king to abdicate his throne.<\/strong><\/p>\n<p>Congressional Republicans and the Biden administration will likely have another showdown on federal spending at the end of the month.<\/p>\n<aside class=\"single__inline-module alignleft\">\n<div class=\"inline-module inline-module--related-post\">\n<div class=\"inline-module__inner\">\n<h2 class=\"inline-module__heading widget-heading widget-heading--underline\"><\/h2>\n<div class=\"story story--i-flex story--i-flex-none-sm\">\n<div class=\"story__image\"><a class=\"inline-module--related-post__link\" tabindex=\"-1\" href=\"https:\/\/nypost.com\/2023\/06\/28\/biden-makes-bidenomics-re-election-pitch-despite-falling-real-income-poll-pessimism\/\" target=\"_self\" rel=\"noopener\" data-ga-event=\" {&quot;category&quot;:&quot;See Also&quot;,&quot;action&quot;:&quot;https:\\\/\\\/nypost.com\\\/2023\\\/06\\\/28\\\/biden-makes-bidenomics-re-election-pitch-despite-falling-real-income-poll-pessimism\\\/&quot;,&quot;label&quot;:&quot;Slot 1&quot;} \">\u00a0 <\/a><\/div>\n<h3 class=\"postid-27675151 story__headline headline headline--xs inline-module--related-post__headline\"><\/h3>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>Biden said in May he wanted federal courts to rule the president is entitled to unlimited spending thanks to his <a href=\"https:\/\/nypost.com\/2023\/05\/08\/the-constitution-doesnt-let-biden-spend-at-will-compromise-on-the-debt-ceiling-already\/\">perverse interpretation of the 14th Amendment.\u00a0<\/a><\/p>\n<p>But <strong>the real problem there \u2014 and with Biden\u2019s reckless spending \u2014 is with the 13th Amendment, which prohibited involuntary servitude. Americans are increasingly seeing their financial independence ravaged thanks to DC\u2019s plundering and blundering.<\/strong><\/p>\n<p><strong>The dollar has lost 17% of its purchasing power since Biden became president.<\/strong><\/p>\n<p><a href=\"https:\/\/nypost.com\/2023\/08\/24\/mortgage-rates-hit-highest-level-since-2001\/\">Home mortgage rates have nearly tripled to 7.5%<\/a>, and consumer credit-card interest rates have almost doubled.<\/p>\n<h2>Mr. \u2018Middle-Class\u2019<\/h2>\n<p>Biden reminded listeners Monday his nickname was \u201cMiddle-Class Joe.\u201d <strong>That honorific is proof of the craven press coverage he has almost always received.<\/strong> In 1974, he moved into one of the largest mansions in Delaware. NPR reported in 2019 that Biden had earned $17 million since leaving office. His connections to an endless array of shell companies and wire transfers from shady foreigners are also untypical for the middle class.<\/p>\n<p>Is the latest focus on Biden\u2019s soaring deficits a sign the liberal elite is ready to toss him overboard ahead of the 2024 presidential election?<\/p>\n<p>Team Biden claims to have everything under control, but was shocked and outraged last month when US debt was officially downgraded by a top credit-rating firm. Perhaps The Washington Post\u2019s readers are comforted by the assurance that the US budget crisis is not nearly as bad as Argentina. But that is the Scarlet A-word for any discussion of the specter of America plunging into downward financial and economic spirals.<\/p>\n<p><a href=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/nypost-cover-biden-lying.webp\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-18637\" src=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/nypost-cover-biden-lying-715x800.webp\" alt=\"\" width=\"715\" height=\"800\" srcset=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/nypost-cover-biden-lying-715x800.webp 715w, https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/nypost-cover-biden-lying-134x150.webp 134w, https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/nypost-cover-biden-lying.webp 768w\" sizes=\"auto, (max-width: 715px) 100vw, 715px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York Post, September 5, 2023 The media is finally waking up to the sham stats behind Biden\u2019s economy boasts by James Bovard How could Washington\u2019s \u201cbest and brightest\u201d be so clueless for so long? After perennially and uncritically repeating President Biden\u2019s false claims about cutting the federal budget deficit, The Washington Post admitted Sunday [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[2124,3877],"class_list":["post-18631","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-biden","tag-deficit"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>N.Y. Post: The media is finally waking up to the sham stats behind Biden\u2019s economy boasts - James Bovard<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jimbovard.com\/blog\/2023\/09\/04\/n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"N.Y. Post: The media is finally waking up to the sham stats behind Biden\u2019s economy boasts - James Bovard\" \/>\n<meta property=\"og:description\" content=\"New York Post, September 5, 2023 The media is finally waking up to the sham stats behind Biden\u2019s economy boasts by James Bovard How could Washington\u2019s \u201cbest and brightest\u201d be so clueless for so long? After perennially and uncritically repeating President Biden\u2019s false claims about cutting the federal budget deficit, The Washington Post admitted Sunday [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/jimbovard.com\/blog\/2023\/09\/04\/n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\/\" \/>\n<meta property=\"og:site_name\" content=\"James Bovard\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/jim.bovard\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-05T02:34:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-05T16:51:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/jimbovard.com\/blog\/wp-content\/uploads\/2023\/09\/jpb-ny-post-9-5-23-biden-budget-lies.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"556\" \/>\n\t<meta property=\"og:image:height\" content=\"1094\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jim\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@jimbovard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jim\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/2023\\\/09\\\/04\\\/n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/2023\\\/09\\\/04\\\/n-y-post-the-media-is-finally-waking-up-to-the-sham-stats-behind-bidens-economy-boasts\\\/\"},\"author\":{\"name\":\"Jim\",\"@id\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/#\\\/schema\\\/person\\\/79550830ad81c14be529a2c37469974f\"},\"headline\":\"N.Y. 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Post: The media is finally waking up to the sham stats behind Biden\u2019s economy boasts\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/\",\"name\":\"James Bovard\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/#\\\/schema\\\/person\\\/79550830ad81c14be529a2c37469974f\",\"name\":\"Jim\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r\",\"caption\":\"Jim\"},\"description\":\"Bovard's homepage is at http:\\\/\\\/www.jimbovard.com He can be contacted at jim@jimbovard.com James Bovard is the author of ten books. The Wall Street Journal called Bovard \\\"the roving inspector general of the modern state\\\" and Washington Post columnist George Will called him a \\\"one-man truth squad.\\\" His 1994 book, Lost Rights: The Destruction of American Liberty, received the Free Press Association\u2019s Mencken Award as Book of the Year. His Terrorism &amp; Tyranny won the Lysander Spooner \\\"Best Book on Liberty in 2003\\\" award. He received the Thomas Szasz Award for Civil Liberties work, awarded by the Center for Independent Thought and the Freedom Fund Award from the Firearms Civil Rights Defense Fund of the National Rifle Association. Bovard\u2019s writings have been publicly denounced by FBI director Louis Freeh, the Secretary of Agriculture, the Secretary of Housing and Urban Development, the Postmaster General, and the chiefs of the U.S. International Trade Commission, the Drug Enforcement Administration, the Equal Employment Opportunity Commission, and the Federal Emergency Management Agency, as well as by many congressmen and other malcontents.\",\"sameAs\":[\"http:\\\/\\\/www.jimbovard.com\",\"https:\\\/\\\/www.facebook.com\\\/jim.bovard\",\"https:\\\/\\\/x.com\\\/jimbovard\"],\"url\":\"https:\\\/\\\/jimbovard.com\\\/blog\\\/author\\\/admin\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"N.Y. 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Post: The media is finally waking up to the sham stats behind Biden\u2019s economy boasts"}]},{"@type":"WebSite","@id":"https:\/\/jimbovard.com\/blog\/#website","url":"https:\/\/jimbovard.com\/blog\/","name":"James Bovard","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/jimbovard.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/jimbovard.com\/blog\/#\/schema\/person\/79550830ad81c14be529a2c37469974f","name":"Jim","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r","url":"https:\/\/secure.gravatar.com\/avatar\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d95466cfd0934e38803c5035629df727ae4ec1f3f96c6883c05b5c52e2044505?s=96&d=mm&r=r","caption":"Jim"},"description":"Bovard's homepage is at http:\/\/www.jimbovard.com He can be contacted at jim@jimbovard.com James Bovard is the author of ten books. The Wall Street Journal called Bovard \"the roving inspector general of the modern state\" and Washington Post columnist George Will called him a \"one-man truth squad.\" His 1994 book, Lost Rights: The Destruction of American Liberty, received the Free Press Association\u2019s Mencken Award as Book of the Year. His Terrorism &amp; Tyranny won the Lysander Spooner \"Best Book on Liberty in 2003\" award. He received the Thomas Szasz Award for Civil Liberties work, awarded by the Center for Independent Thought and the Freedom Fund Award from the Firearms Civil Rights Defense Fund of the National Rifle Association. 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