With the introduction of "Obama's Misery Index" into the 2012 Presidential lexicon by Mitt Romney, I was prompted to research what America's misery index really is at this point in Obama's administration, and what it means for Republican Party hopes heading into the upcoming election.
Currently the Obama Misery Index (according to the gold standard measure of inflation plus the unemployment rate) is at 10.63%, or 2.90% higher than when he was inaugurated and 2.09% lower than it's height in December 2009. Bush's Misery Index reached a height of 11.47% in August 2008, and a low of 5.71% in October 2006.
Unlike America's misery under Jimmy Carter, which topped out at 21.98% in June 1980 and was based on unbelievably high levels of inflation, our current fiscal woes are due to the highest unemployment rates since December 1982. And to make matters even worse, we are also suffering from two new ailments this time around - a high number of foreclosures and a large national debt.
The number of Americans out of work is what is keeping the misery index high in Obama's administration, but rising oil prices due to Middle East unrest and a lack of substantial production in the Gulf could add the dreaded demon of high inflation into the mix real soon.
So what does this mean for 2012?
Well, Republicans must be as effective in ringing this around Obama's neck as Reagan was able to against Carter, and we must factor in the absolute inability and ineffectiveness of one trillion dollar stimulus packages to relieve America of our common misery during these tough times.
What say you?
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