Washington’s “Fuzzy Math” and The Next Depression June 28, 2010Posted by Admin in Dan Mangru.
By Dan Mangru
Once fodder for a presidential campaign, the term “fuzzy math” really puts Washington, D.C., standards of budgeting and accounting into perspective.
I mean how else could Obama & Company demand $200 million more to spend in a new stimulus when they still have $377 billion left to spend from their $787 billion porkulus program.
What the administration says to justify the additional $200 million is that the U.S. economy has not fallen into utter oblivion; hence the stimulus must be working.
There’s no concrete way to prove them wrong, meaning we don’t know what would have happened to the U.S. economy if we did not have the stimulus. There’s also no concrete way to prove them right, meaning that you cannot determine with certainty that the stimulus was the deciding factor in helping the U.S. economy avoid disaster.
The best word to describe this type of math and logic is “fuzzy.”
Well, our pals in Washington are at it again, with a new accounting fine print that could send the economy into tailspin.
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