Today, Saturday, November 21, 2009, the Senate will be voting on a national spending bill that the Obama Administration calls a healthcare bill.

The Administration prefers to use the cost figures of the CBO (Congressional Budget Office) over the figures of that will later be calculated by the United States Treasury Department. Why you may ask does it matter? The CBO’s accounting is based upon creative accounting often using assumption that a first year college accounting student would conclude to irrationial logic. The CBO has a history of understatment of expenses and ignorning the rules of GAAP (General Accepted Accounting Prinicples). The United States Treasury Department maintains a higher standard of creidiblity because it uses GAAP in its accounting. We have even heard the Washington elite state this healthcare bill will reduce the deficit?

This week the government website reported the $6.4 BILLION stimulus spending that created jobs in 440 non-existent congressional districts. This list is to long to include in this blog. The question here should be not in the “dream jobs” created by the spending, but where is the money?

The national debt is another “smoke and mirror” figure being presented to the American people, currently the government and numerous media outlets report the national debt is $12 TRILLION DOLLARS. This figure is not entirely bogus, because it represents what our current cash flow debt is. It does not account for federal obligations under GAAP accounting. Using GAAP and including the total U.S.obligations of Social Security, Medicare benefits, and other mandated social programs to must be paid in the future, the deficit is $65.5 TRILLION DOLLARS. The real eye opener is this deficit exceeds the total world GDP (Gross Domestic Product is a measure of all of the services and goods produced in a country over a specific period, classically a year).

“Dream jobs” or jobs saved is a concept invented by the Obama Administration. Like many Americans we are still waiting on the formula used to determine “jobs saved”. The information cannot be found from the Labor Department, the US Treasury, or the Bureau of Labor Statistics. We cannot find the formula from any published macroeconomic papers or publications. Just where is the math for these “dream jobs”?

The Unemployment numbers are interesting. The number of unemployed is not an actual count; they are not based upon individuals filing for unemployment insurance. The Government conducts a monthly sample survey called the Current Population Survey (CPS) to measure the extent of unemployment in the country. The sample is taken from about 60,000 households across the United States. Every month, one-fourth of the households in the sample are changed, so that no household is interviewed more than 4 consecutive months. This procedure results in approximately 75 percent of the sample remaining the same from month to month and 50 percent from year to year. It is assumed that those in the survey represent what is occurring throughout the United States.

People are considered employed if they have jobs or have given up looking for employment. People are considered unemployed if they do not have jobs and are available for employment. People neither employed or unemployed are not considered part of the labor force.

While the primary focus is on percent of individuals unemployed, counting part-time workers and individuals that have stopped looking for jobs as employed keeps this figure relatively low. For example, the recent heavy media report that unemployment was 10.2 % for November is often hidden in the broader U-6 unemployment rate of 17.5 %.

Some voters find it difficult to support the direction of Congress and the Obama Administration, when they see bogus figures.