Quote:
Originally Posted by AnUnidentifiedMale
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I'm glad to hear your retirement account has more devalued dollars in it.
I also believe in giving a new office holder a certain amount of time before holding them and their policies accountable for changes occurring in the economy.
Since six months after taking office is being tossed around in the video, I'll use that as a starting point.
In July of 2009, the US Misery Index stood at 7.4%, US unemployment was 9.5% and, perhaps a better barometer of the domestic job market, the Civilian Workforce Participation Rate was 65.5%.
In July of 2012, the US Misery Index was 9.71%, official US unemployment was 8.3% and the US Civilian Workforce Participation Rate was 63.7%.
In three years, the US Misery Index increased by 2.3%, official US unemployment decreased by 1.2% and the US Civilian Workforce Participation Rate decreased by 1.8%.
It's not a large increase in the Misery index or reduction of official unemployment or workforce participation.
He doesn't fail because things got much worse on his watch.
He fails because things didn't get better.
When he took office in 2009, the economy was already in free fall.
The bottom would come within the year and he sould have two years of solid out of control rebound even if he did absolutely nothing at all.
By comparison, the Reagan recovery from the 1981-82recession was several times as robust as this recovery and gains in retirement accounts and paychecks were in stronger US dollars instead of the weaker, just minted, hot off the press, just try to buy something with it US dollars that we have today.
When Reagan took office inflation was off the hook and the economy was stagnant.
The US Misery Index was 17.96%, official US unemployment was 7.2% and the US Civilian Workforce Participation Rate was 63.6%.
In 1984, the US Misery Index was 11.7%, official US unemployment was 7.5% and the US Civilian Workforce Participation Rate was 64.6%.
Under Reagan, the Misery Index decreased by a third.
Under Obama, it has increased by just under a third.
That really sucks.
Under Reagan, official unemployment increased sightly.
Under Obama, official unemployment has fallen from 9.5% to 8.3%.
He could probably win a second term without campaigning if he had Reagan's 7.5% unemployment rate.
The Civilian Workforce Participation Rate increased under Reagan by one point and decreased under Obama by 1.8%.
Once again, that really sucks.
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