IBD has brought back the Misery Index to the News. President Obama Average Misery Index is 10.37 topping that of George W. Bush 8.11 and Clinton at 7.8. While things are bad, Obama does not top the Days of Jimmy Carter at peak Misery of 21.98
Conceived by economist Arthur Okun in the early 1970s, the Misery Index simply adds together the inflation and unemployment rates to create an effective indicator of real-world suffering.
It gained notoriety under President Carter, whose growth-choking, easy-money policies pushed the index to its post-World War II high. Now, under President Obama’s equally disastrous economic policies, the Misery Index is making its return.
The annual inflation rate for May climbed to 3.6% as price spikes spread beyond oil and food. At the same time, May’s unemployment rate edged up to 9.1%, yielding a Misery Index of 12.7.
That marks the fourth straight monthly increase in the index, which is now 62% higher than it was when Obama took office, and 57% higher than it was when the recession officially ended.
Obama’s Misery Index average of 10.37 is higher than George W. Bush’s (8.11) or Bill Clinton’s (7.8).
Admittedly, we’re a long way from the 21.98 peak during the Carter administration. But with Obama vigorously stirring the stagflation cauldron for the past 2 1/2 years, it should be no surprise that we’re heading in that direction. Consider: