Rise in Unemployment and Debt Combine for a Record “Obama Misery Index” in May
After a dismal May jobs report revealing 220,000 more men and women out of work, the Obama Misery Index rose to a record high of 80 percent. The Obama Misery Index measures the rise in unemployment and debt since the beginning of the President’s term. The Administration’s failed policies and out-of-control spending have led to a 5.6 percent increase in the number of unemployed and a staggering 74.5 percent ($4.7 trillion) increase in the debt held by the public.
Sadly, the President and Democrats in Congress seem perfectly content to allow a bad situation to get worse by refusing to offer any viable solution to these growing problems.
But the American people can’t wait. Now is the time for the President and Congressional Democrats to work with Republicans to get the unemployed back to work and our debt and deficits under control.
Source: Ways and Means staff calculations, using Department of Labor and Department of Treasury data.