Sorry, Obama, But Yogi Berra Says, "2012 Will Not Be 1984 All Over Again!"

2012 is 1984 all over again? Unlikely.  Reagan v. Obama?  No.  Going in different directions.

Reagan faced 10 consecutive months of 10% or higher unemployment, topping at 10.8% — well above the 10.1% we briefly touched in 2009 year.

That 10.8% unemployment under Reagan was the worst since World War II.

But that’s not all. Reagan faced more than mere unemployment.

Inflation was 11.83% the day Reagan took office.

Inflation was 00.03% the day Obama took office.

The Misery Index (unemployment + inflation) was 7.73 on the day Obama was inaugurated.

That was lower than the 7.93 that President Bush 43 “inherited.”

The Misery Index is now 19.8% using the Carter/Reagan Era inflation formula, which makes true inflation is 10.7%.

The Misery Index stood at a whopping 19.93 on Reagan’s Inauguration Day.

The US had both inflation and unemployment. Unheard of.

Unlike Obama, Reagan did not try to buy prosperity. He worked with a Democratic House to cut taxes while not cutting spending (unfortunately this should have been done much more later and wasn’t). The result was a historic turn around in an economy that had been moribund throughout the 1970s.

Reagan passed his tax cuts in 1981 by votes of 323-107 in the House, and 89-11 in the Senate.  Obama got Zero votes in the House for his Supercalifragilisticexpialidocious Stimulus Act of 2009 ("I won!" ya know!) and only 3 in the Senate with one soon thereafter switching parties.  He got 0 Republicans votes in the Senate for Obamacare and 0 Republican votes for the final Obamacare bill in the House.  He refused to work with Republicans or to listen to the majority of Americans, who did not want it.

Obama’s recovery act was passed within his first month. Reagan had to work out a deal and wait 7 months before signing his into law.

By July 1982 — which is comparable to the latest data we have on Obama — the Misery Index fell to 16.24.

But even though that was 5.50 points worse than it is today, Reagan had made progress.

The Misery Index fell by 3.69 points in Reagan’s first 18 months in office.

Obama?

He added 4.43 points to the Misery Index, raising it to 12.16 (in today’s formula, which doesn’t take into account inflation in food and energy prices).

Remember how he said if we do nothing, unemployment would reach 9%?   Unemployment is at 9.1% NOW, with almost 14 million Americans out of work. Nearly half the jobless have been without work for more than six months.   Obama promised much better, declaring that his February 2009 stimulus would cause unemployment to peak at 8% by the end of summer 2009 and drop to roughly 6.8% today.

Obama paid $830 billion to buy a higher unemployment, longer unemployment, a devalued dollar, and a 1Q-FY 2011 GDP of, when inventory is stripped out of, sit down because this is going to hurt, 0.15%. Yes, that’s a “0,” then a decimal point, then 15, as in ZERO POINT ONE-FIVE PER CENT.

So, what do we have with Obamanomics? In April, we saw 34.6% of all jobs created in America created by McDonald’s. If you thought that was impressive, Obama and Obamanomics were just getting cranked up. In May, that number rose to 55%.

ZERO, ZILCH, NADA, NYET, NEIN, NON, NR, ZIPPO, NARI, NE, NA, and NGAI net change in jobs in a month for the first time in since 1945.

A historic, unprecedented downgraded in the creditworthiness of the United States.

And, the first time since 1945 that there has been no net change in jobs (August).

Obamabots aren't going to be driving down those all bumps, no road thoroughfares with "Change, We Can Believe In!" bumper stickers on the back of their Priuses. In the middle of the night, their neighbours will have replaced them with:

"He Made It Worse!"