Advance GDP estimate for second quarter revised down from 2.4% to 1.6%

This is a GDP number that is down 55 percent from the first quarter. Will Vice President Joe Biden’s Summer of Recovery tour be canceled, or will he just change up the play list? Has the Associated Press displayed their bias with the first paragraph re-write of the GDP numbers story?

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The most outrageously outrageous stat counting ever UPDATE: Cavuto finds a believer

The White House has come up with a new spin on jobs created or saved and well … imagine you’re in an economics class and you turn in a paper that says this. Now imagine your Professor laughing (yes, even the liberal ones), and then imagine the “F” you are going to get on your transcript.

Hot Air has this covered. I post it only because you must not miss it. Because for sure … if I didn’t point it out you most assuredly would believe it’s made up.

Now … your job has been “saved” if you got a raise. No really. Stop laughing. Come on. Stop it. I am writing here. I’m, um, uh … ahhh, bawahahahahahahaha.

About two-thirds of the 14,506 jobs claimed to be saved under one federal office, the Administration for Children and Families at Health and Human Services, actually weren’t saved at all, according to a review of the latest data by The Associated Press. Instead, that figure includes more than 9,300 existing employees in hundreds of local agencies who received pay raises and benefits and whose jobs weren’t saved.

Ed points this line out in the AP story:

But officials defended the practice of counting raises as saved jobs.

“If I give you a raise, it is going to save a portion of your job,” HHS spokesman Luis Rosero said.

The AP had better watch itself. They might get Foxed.

UPDATE: From last night’s Neil Cavuto program on FBN (which if you don’t have you should demand it), Cavuto challeneged California Congresswoman Jackie Speier on the 640,000 stimulus jobs created or saved …another classic Cavuto moment, followed by another classically dumb Democratic moment. As you listen … keep in mind the story above.