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

Unemployment Up 18% and Government Debt Up 54% under President Obama
July 11, 2011 — The Jobs Search   

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. 

SUBCOMMITTEE: Work and Welfare    SUBCOMMITTEE: Full Committee