Friday, May 24, 2013

FACTS that right wingers ignore

If you, like me, receive all kinds of mis/disinformation from right wingers, you might want to share the following facts and figures with them that explain the truth about WHY unemployment figures went so high--and WHOSE administration really caused it (not that they will pay the least bit of attention to it, unfortunately). Republicans continue to obstruct any relief to our nation's problems, forcing Obama to constantly try to make end runs around them:

FACT CHECK:  Is unemployment higher since President Obama took office?

Republican candidates running for Connecticut’s 5th District seat in the U.S. Congress have criticized Democrats’ handling of the U.S. economy under President Obama. They are correct when they say that the nation’s unemployment rate is higher since Obama took office.

In the past 30 years, the unemployment rate was as high as 7.2 percent in November 1982 before dipping to a low of 3 percent in November 1987; the next bust resulted in 7.4 percent unemployment in March 1992 during President George H.W. Bush’s administration before a steady recovery to a record low unemployment of 2.1 percent in Sept. 2000 when President Bill Clinton was in office.

Starting in Jan. 20, 2001, at the beginning of George W. Bush’s administration, the rate was 2.4 percent, but by the time he left in January 2009 it had reached 7 percent, following the near collapse of the financial services industry and a government bailout of $700 billion in Oct. 2008 because of the subprime mortgage crisis.

Barack Obama assumed office on Jan. 20, 2009 with the 7 percent rate, which continued to grow to 9.4 percent in August 2010, a three-decade high, and only started to slowly go down throughout 2011 to 8 percent in January 2012 and now to 7.8 percent in February.