Thank You Barack Obama & Obamanomics: Misery Index Hits 28 Year High

Who said that Obama was not Presidential? Although, he is hardly Lincolnesque or Reaganesque … more like Carteresque.

Thanks to Barack Obama and his economic policies have provided us with, we are now presented with a “Misery Index” at 28 year high. Hey America, how is that “Hopey, Changey” stuff working out for you?

When it comes to measuring the combination of unemployment and inflation, it doesn’t get much more miserable than this.

In fact, misery, as measured in the unofficial Misery Index that simply totals the unemployment and inflation rates, is at a 28-year high, reflective of how weak the economic recovery has been and how far there is to go.

The index, first compiled during the soaring inflation days of the 1970s by economist Arthur Okun, is registering a nausea-inducing 12.7—9.1 percent for unemployment and 3.6 percent for annualized inflation—a number not seen since 1983. The index has been above 10 since November 2009 and had been under double-digits from June 1993 through May 2008.