John Ransom

Bloomberg reported this week on a curious phenomenon coming from the White House that reminds me of Soviet practices back in the day.

Obama, it seems, often gets facts and figures incorrect when on the stump or when on a conference call. But in the official transcripts, the White House corrects for the mistake without acknowledging who made it.

From Bloomberg:

When the president hopped on a hastily planned conference call intended to push the passage of the Paycheck Fairness Act, he got a key statistic wrong. But that would be corrected for him hours later.

President Obama mistakenly said that women earn 70 cents for every dollar that men make. The correct statistic is 77 cents on the dollar.

Three hours after the noon call, the White House circulated by e-mail a revised transcript crossing out the “70? and replacing it with “77? with a note at the top: “Please see below for a correction (marked with an asterisk*).”

The problem, says Bloomberg’s Kate Andersen Brower, is that if you weren’t on the conference call you wouldn’t know if the mistake was the president’s or the transcriber’s.

“On May 11 in Reno, Nevada,” says Brower, “the White House issued a similar correction when the president incorrectly said his mortgage refinancing proposal would save families $3,000 ‘a month’ when he should have said $3,000 ‘a year.’”

Again, it was one of those you-had-to-be-there moments where the White House did not- or perhaps more accurately, could not- acknowledge that Obama made a mistake

But hey, to a millionaire community organizer who the heads up the One Percent of the One Percent who never really earned their millions, there is no difference between $3,000 a month and $3,000 a year.  

On the one hand this explains why the Obama has so carefully guarded his college transcripts. Official college transcripts don’t come with asterisks, revising C averages to A’s just because a guy happens to be president of the United States.

On the other hand, it reminds me of the type of evasions that the Soviet Union used to resort to in order to preserve the myth of infallibility of the Marxist state and the Marxist leader.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.

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