Thursday, June 16, 2011

Obama Misery... Continuing To Worsen


by: Les Carpenter
Rational Nation USA
Birthplace of Independent Conservatism
Liberty -vs- Tyranny


As President Obama continues to prove his incompetency in all things economic the nation's misery continues to mount. Obama's "Hope and Change" has morphed into "Despair and Despondency" for the American people.

The Misery Index became a household word in the mid 1970's during Jimmy Carter's inept presidency. Thirty years later the inept Obama presidency is on the verge of again making it a household word.

From Investors.com.
Economy: As if the picture weren't bleak enough, here's one more data point to worry about — the Misery Index is on the rise.

Conceived by economist Arthur Okun in the early 1970s, the Misery Index simply adds together the inflation and unemployment rates to create an effective indicator of real-world suffering.

It gained notoriety under President Carter, whose growth-choking, easy-money policies pushed the index to its post-World War II high. Now, under President Obama's equally disastrous economic policies, the Misery Index is making its return.

The annual inflation rate for May climbed to 3.6% as price spikes spread beyond oil and food. At the same time, May's unemployment rate edged up to 9.1%, yielding a Misery Index of 12.7.

That marks the fourth straight monthly increase in the index, which is now 62% higher than it was when Obama took office, and 57% higher than it was when the recession officially ended.

Obama's Misery Index average of 10.37 is higher than George W. Bush's (8.11) or Bill Clinton's (7.8).

Admittedly, we're a long way from the 21.98 peak during the Carter administration. But with Obama vigorously stirring the stagflation cauldron for the past 2 1/2 years, it should be no surprise that we're heading in that direction. Consider: {Continue Reading}

Cross posted to the Left Coast Rebel

Via: Memeorandum

9 comments:

  1. I just loves things like "the misery index" that lump inflation and unemployment together...I notice one other statistic that could be included to truly measure the misery of this nation...and that would be to add in the number of right wing blogs that popped up spewing stupidity since Obama took office!

    The more right wing bloggers the more misery!

    TAO

    ReplyDelete
  2. This is the Republican misery, not the Obama misery. It is the Republicans who are calling for budget cuts, even though budget cuts have zero stimulative effect (they do the opposite).

    Republicans retook the House on a promise of a jobs agenda... they lied.

    ReplyDelete
  3. What Obama has always needed to accomplish was to increase taxes and domestic investment spending while reducing the debt - which means increases taxes a lot.

    I think he genuinely hoped the economy would recover enough, within in his first two years, while he had the House and Senate, and that the Hill would allow, for the expiration of the Bush tax cuts. But the Dems lacked the spines, even though they knew they were in trouble anyway. Probably because they knew they were heading for the private law, lobbying, and business sectors and didn't want to aggravate them.

    The Dems also lacked the spines to pass the Medicare buy-in, a brilliant plan that the GOP, in cahoots with those swing-district Democrats, killed because they always have and always will try to kill Medicare, one of the finest government health insurance programs in the world.

    So, two huge debt reducers - tax increases and the Medicare buy-in - never happened, and the Bush Depression worsens.

    Obama did inherit this mess, but as yet he's been unable to do what's necessary to clean it up. I'm afraid his first two years may have sealed his fate as a one-term president. It's the GOP's to lose.

    JMJ

    ReplyDelete
  4. Newsflash from the WSJ:

    "64% of respondents say Obama is either "not really" or "only somewhat" responsible for the state of the economy"

    http://finance.yahoo.com/blogs/daily-ticker/americans-down-economy-don-t-blame-obama-wsj-142140899.html

    TAO

    ReplyDelete
  5. As they say it is what it is, and history will show the failings of the Obama administration.

    ReplyDelete
  6. Yes, Yes...we know how concerned you are about the failings of an administration leading this country....

    It would be more believable if you had started blogging prior to the election or like when the most incompetent, most corrupt, and most destructive administration this country has ever seen was in office...

    Nope, you were pretty satisfied with those guys....

    TAO

    ReplyDelete
  7. Right TAO. Believe as you wish. Have a good life as you enjoy that which you {and the rest of the progressives} reap that which you sowed.

    I have critisized Bush 2 many times. It it you who chose to twist and turn what I have said and distort it. So be it.

    You do so because I simply refuse to buy your scialist progressive crap. But you are certainly entitled to your beliefs.

    Nice try but huge fail!

    ReplyDelete
  8. 99% don't believe or somewhat believe in a stat (98% somewhat believe in a stat)

    Making up stats is fun!

    ReplyDelete
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