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Rising Unemployment and Growing Debt Lift “Obama Misery Index” to Near Record Level in June

July 11, 2011

While President Obama talks about reining in the deficit, government debt has grown by $3.4 trillion during the first 29 months of his Administration – the equivalent of about $4 billion per day.  In addition to forcing a showdown on the debt limit, this massive debt is weighing heavily on job creation, contributing to an unemployment rate above 9 percent for yet another month.  As a result, the Obama Misery Index – which measures the rise in unemployment and debt since the Obama Administration began – rose to 72 percent in June, a near record level.

Source: Ways and Means staff calculations, using Department of Labor and Department of Treasury data.