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Guessing Our Way Out Of Recession

If the methodology used to determine the effect of government stimulus on employment is the new blueprint for important economic data, we are going to be able to guesstimate ourselves out of the recession. The Deputy Director of the White House Office of Management and Budget, Rob Nabors, has cautioned states that they will be required to utilize groundbreaking sampling techniques to estimating the number of jobs created through the stimulus.

Recipients won't be asked to grapple with complicated estimates. Instead, they may use their best guess whether a job would have been created or saved in the absence of a recovery plan, and to not count it if they are uncertain.

States Given Leeway in Tallying New Jobs from Stimulus [WSJ]