A scandal that erupted in the United States in 2009 when reports of jobs saved or created by President Barack Obama's stimulus plan came into question.
When the numbers were analyzed, serious errors were uncovered that revealed an overestimation of jobs saved, as well as the creation of jobs in Congressional districts that didn't exist.
As the story unfolded, it became quite apparent that calculating the number of jobs saved or created was an exercise in futility, since it was nearly impossible to determine if the equation used was accurate enough to make such grandiose claims.
When the numbers were analyzed, serious errors were uncovered that revealed an overestimation of jobs saved, as well as the creation of jobs in Congressional districts that didn't exist.
As the story unfolded, it became quite apparent that calculating the number of jobs saved or created was an exercise in futility, since it was nearly impossible to determine if the equation used was accurate enough to make such grandiose claims.
Some government worker (GW): "Thank god for the stimulus plan, or I would have been fired."
Some skeptical dude (SD): "How do you know that?"
GW: "Shut the hell up. You hate Obama because he's black, just admit it!"
SD: "Not true. But just like Dick Nixon, Barack is lying to you and Mathgate will be his downfall."
Some skeptical dude (SD): "How do you know that?"
GW: "Shut the hell up. You hate Obama because he's black, just admit it!"
SD: "Not true. But just like Dick Nixon, Barack is lying to you and Mathgate will be his downfall."
by Creative Destruction November 27, 2009