Senator Bernie Sanders (I-Vt.) gave a highly anticipated speech at Georgetown University on Thursday, where he extolled socialism. The Democratic presidential candidate, whose proposed an estimated $18 trillion in new spending over the next decade, invoked President Franklin D. Roosevelt and the New Deal in his effort to sell his message to college students.

On Friday, May 2, the White House was happy to announce the lowest US unemployment rate since September 2008. As reported by the Bureau of Labor Statistics, with 288,000 nonfarm jobs added to the economy, the unemployment rate dropped from 6.7% to 6.3% in April 2014.

With the whirlwind of scandal currently buffeting the Obama Administration, domestic attention has shifted away from economic performance. Be assured, the economic picture is as bleak as ever. Economic indicators like GDP tend to be measures of monetary flow, not economic well-being per se; in fact, GDP is boosted every time there is a tragic natural disaster, and those aren’t good for anyone!

Fallacy Friday: The Unemployment RateThe last Fallacy Friday focused on the improper logic and economics surrounding the minimum wage. This week, let’s take a look at a fallacy of deception: the deceptiveness of the current unemployment rate.

This morning, November 6th, 2009, the American people received a late Halloween trick from the Bureau of Labor Statistics (BLS) as they released unemployment numbers for the month of October.