Public choice theory explains the incentives and behavior of the tens of thousands of government employees who work in the bowels of the Bureau of Labor Statistics, Bureau of Economic Analysis, U.S. Treasury, Office of Management and Budget, Economics and Statistics Administration, and countless other agencies who generate and massage spreadsheets day in and day out.

FORBES: Distorted Government Statistics Endanger Our Economic Health

By last count, no fewer than 106 federal agencies are tasked with gathering statistics, the most important being the Bureau of Labor Statistics, Bureau of Economic Analysis, Census Bureau, U.S. Treasury, Internal Revenue Services, Office of Management and Budget, and Economics and Statistics Administration.

FORBES: It's Time For A Transparency-In-Government-Statistics Law

Academics say the decision is economically illogical because small-scale safety improvements offer best value for money on the sort of financial analysis demanded by the Treasury.

BBC: Spending plan 'snubs road safety'

To review, Madeline Schnapp at TrimTabs estimated 116, 000 new April jobs based upon analysis of daily income and employment taxes collected by the U.S. Treasury.

FORBES: The Aftermath of Friday's BLS 'Findings'

The new analysis was done because the Treasury Department said in January it would pick up part of the tab if the companies would reduce principal balances when modifying mortgages for troubled borrowers.

WSJ: Data Show Fannie, Freddie Savings From Debt Forgiveness

As an aide to previous treasury secretaries, then as president of the Federal Reserve Bank of New York, he earned a reputation for rapid analysis and decisive responses.

ECONOMIST: The treasury secretary is torn between politics and policy

Notably, last month, a senior and highly respected member of the Senate Finance Committee, Arizona Republican Jon Kyl, wrote SEC Chairman Chris Cox, Fed Chairman Ben Bernanke, Treasury Secretary Henry Paulson and Attorney General Michael Mukasey asking them to respond to Mr. Yerushalmi's analysis of Shariah-Compliant Finance.

CENTERFORSECURITYPOLICY: Into the fire