White House gives up on jobs target

Well, this story sums up about all you need to know about George W. Bush and his Administration:

1. They have done, and are doing, a lousy job of macroeconomic management.

2. They have no respect for facts.

3. If their lips are moving, they’re lying. Transparently, the phony jobs estimate wasn’t dreamed up by the “number crunchers.” It was dreamed up by the same highly paid political hacks who decided to substitute photos of the Beloved Leader for charts and graphs in the latest Economic Report of the President.

4. The President personally is trying to usher in the “era of personal responsibility” by refusing to take any personal responsibility for anything.

The good news is that eventually they had to back off their silly estimate.

Hearty congratulations to Brad DeLong, who spotted this issue early and rode it hard.

Author: Mark Kleiman

Professor of Public Policy at the NYU Marron Institute for Urban Management and editor of the Journal of Drug Policy Analysis. Teaches about the methods of policy analysis about drug abuse control and crime control policy, working out the implications of two principles: that swift and certain sanctions don't have to be severe to be effective, and that well-designed threats usually don't have to be carried out. Books: Drugs and Drug Policy: What Everyone Needs to Know (with Jonathan Caulkins and Angela Hawken) When Brute Force Fails: How to Have Less Crime and Less Punishment (Princeton, 2009; named one of the "books of the year" by The Economist Against Excess: Drug Policy for Results (Basic, 1993) Marijuana: Costs of Abuse, Costs of Control (Greenwood, 1989) UCLA Homepage Curriculum Vitae Contact: Markarkleiman-at-gmail.com