The first of three charts this morning shows unemployment under Obama compared to all other Post-WWII presidents (a more visually pleasing version is at Instapundit):
Update to Chart 1: A temperamental connection this morning swallowed up something which I had drafted. Here goes the attempt at recreation –
- Ford’s 12 months of 8%+ unemployment in calendar 1975 followed Nixon’s rudderless final 18 months in office. Ford didn’t right the ship in time, and lost to Jimmy Carter.
- Reagan’s 26 months of 8%+ employment followed Carter’s awful presidency; Reaganomics righted the ship and began 25 years of nearly unbroken prosperity.
- Obama’s 43 months, and counting, are still being blamed on what he supposed inherited from George W. Bush, when the fact is that Obama is dealing with the fallout from the POR Economy (initiated by Pelosi, Obama, and Reid for the purpose of winning the 2008 election), the housing and mortgage-lending crackup which was the inevitable result of flawed Democratic housing policies, and 15 years of mortgage securitization fraud at Democrat crony companies Fannie Mae and Freddie Mac.
The second chart hits on an underappreciated explanation for why the “recovery” has been so weak, via James Pethokoukis:
I believe that two factors are at work here: fewer start-ups, and fewer workers hired at each new start-up.
Chart 3 lays out ObamaCare’s taxes, and comes from Heritage:
It’s a miracle, and really a tribute to the entrepreneurship which still remains, that the we still don’t have double-digit official unemployment. (A commenter today noted that it is in double digits by several legitimate measurements.)