The news media often uncritically report federal government national economic indicators, without explaining how they are calculated. Well, it seems Mark Twain was right when he noted (quoting Benjamin Disraeli), “There are three kinds of lies: lies, damned lies, and statistics.” The unsurprising truth, according to John Williams of Shadow Government Statistics (SGS): “Inflation and unemployment reports are understated, while employment and other economic data are overstated, deliberately.”
The government began fudging the numbers during the Reagan administration, although the Clinton administration continued doing it. SGS calculates economic indicators according to the original criteria, so that the real trends become evident.
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