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Despite Administration’s Rhetoric, Unemployment and Debt Skyrocket Under President Obama

January 26, 2010

Washington, DC – Following a spate of weekend interviews in which Administration officials confusingly cited wildly different numbers in an attempt to claim the Democrats’ “stimulus” bill was a success, Ways and Means Ranking Member Dave Camp (R-MI) today released data showing the Obama Misery Index (the combined change in the nation’s public debt and unemployment since the President took office) reached a record 52 percent in the fourth quarter of 2009. 

“Americans have suffered a great deal during the President’s first year in office — the loss of nearly 3 million jobs and a massive increase in government debt  – which resulted in a 52 percent increase in the Obama Misery Index. Tomorrow, as the President delivers his first State of the Union address, Americans should ask whether his latest proposals will actually create jobs and whether they will actually lower the debt.” 


Source: Ways and Means staff calculations, using Department of Labor and Department of Treasury data.
Note: Numbers differ from previous releases due to revisions by the Bureau of Labor Statistics.