Remember the Misery Index? The news media rolls it out during every conservative administration then mothballs it while Democrats are in office.
The Misery Index is defined as the inflation rate plus unemployment, and there’s no better way to put the public off than to associate the term “elevated misery” with them. It’s a great propaganda tool.
Natch, the misery index has been ignored during the reign of Chicago Jesus, but we thought that we ought to help the media do its job by whacking Barry in the kneecaps with these numbers.
Jimmy Carter, the personification of the Misery Index
Here’s a summary by president:
Bush I, 10.68
Barack Obama, 10.21
Bush II, 8.11
But wait. There’s something missing from that chart. What is it? Here’s a hint: What is the actual current unemployment rate?
The unemployment rate during Obama’s tenure has been strangely flat, because instead of reporting the number of people who are actually out of work, they’ve conveniently trimmed off the ones who have given up looking for work. If you add in all the people who’ve given up looking for work and those who are working at crappy part time jobs until things improve, analysts say the true unemployment rate is more like 22%.
Is this an accident? A statistical anomaly? We think not. The White House knows all about it. Austan Goolsbee thought it was dishonest when this happened to a much lesser extent during George Bush’s presidency, but now that he has a job at the Obama White House he thinks it’s a dandy technique:
“In fact, Austan Goolsbee, who is now part of the White House Council of Economic Advisers, wrote in a 2003 New York Times piece titled “The Unemployment Myth,” that the government had “cooked the books” by not correctly counting all the people it should, thereby keeping the
unemployment rate artificially low. At the time, Goolsbee was a professor at the University of Chicago. When asked whether Goolsbee still believes the government undercounts unemployment, a White House spokeswoman said Goolsbee wasn’t available to comment.”
Yep, that’s right. Austan Goolsbee is “unavailable for comment” now that Barack Obama is his boss.
So let’s do the job the media refuses to do, recalculate the Misery Index using the “real” unemployment rate, and take another look at that chart:
2009, inauguration as President of the United States. 2011, coronation as King of Misery.
Barack Obama, 25.00
Bush I, 10.68
Bush II, 8.11
Well, look what happens if you add in that number. We have us a new winner in the misery creation department!
Yes, Barack is the one we have been waiting for — the one who can lead us to our new destinations as serfs of the state.
Where’s my forty acres? Where’s my mule?
Repeat it after me: Barack Hussein Obama, King of Misery.
Sources: MiseryIndex.us, DailyFinance.com