Posted on 07/16/2021 7:20:36 AM PDT by Hojczyk
Young adults today are likely unfamiliar with the term “misery index.” But they could soon learn about it the hard way, thanks to President Joe Biden’s economic incompetence.
The misery index, a measure started under President Lyndon Johnson, is a simple measure combining the unemployment rate and the inflation rate. The idea being that joblessness and a fast-rising cost of living produces palpable misery in the country.
The index has long been forgotten because it’s been so low for so long. It hit a high of 21.9 under Jimmy Carter way back in 1980, but by the end of President Reagan’s first term, it had been cut in half. The average under President Donald Trump was just 6.9.
The misery index spiked at the start of the COVID-19 lockdowns, jumping from 5.94 to over 15 in one month with the surge in unemployment. But then it quickly dissipated, as the economy under Trump rebounded faster than the so-called experts had predicted. By the time Trump left office, the misery index was back down to 7.7.
A funny thing has happened since.
The misery index has climbed each and every month that Joe Biden has been president. In February, it ticked up to 7.9, then rose to 8.6 in March. Last month, the misery index hit 11.3, as the monthly inflation rate climbed to 5.4% while the unemployment rate edged up to 5.9%.
(Excerpt) Read more at issuesinsights.com ...
Everything old is new again. Haven’t heard the term “misery index” in awhile.
“They” seem to benefit from a lousy economy?
The honest little guy, who they pretend to care about, not so much?
Is anyone surprised?
4 guys who cut to the front of the line at a wedding buffet?
I was trying to place the faces. Thank you for the chuckle.
I remember how Jimmy Carter used the misery index in 1976 against President Ford in the campaign.
But when running for reelection in 1980, having presided over a much worse misery index, Jimmy never mentioned it.
Winner 💥🙃👍🤮
Biden inflation, the CPI-W index for February through June, is running at an annualized rate of 12.5%. That puts the misery index at 18.4%. I don’t understand why republicans allow the media to dilute the true inflation rate with 7 months of Trumps much lower numbers.
I’m not seeing much misery in my neck of the suburban woods. It’s party like it’s 1929 here. Full employment, government dropping money from helicopters, stock market up, home values way up, etc. Not a bad start to our post Constitutional republic.
A democrat plague always increases the misery index.
Well, MY misery index has been pegged in the RED ever since Sloe Joe and The Hoe were declared “winners!”
It will remain pegged until EVERY ONE of those miserable, lying, anti-American/LIEberal/Socialist/Marxist/Fascist/Communist Democrats are FRog-marched out of Washington, DC, in orange jump suits, to a federal Super-Max prison!
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