Each month since the 1970s, economists have used the newly released and updated Bureau of Labor and Statistics (BLS) data to quantify the economic health of the country. To do so, they add the current U.S. unemployment rate, which is a semi-stagnant 3.7%, to August’s worse-than-expected rate of U.S. inflation, which is a harsh 8.26%. Originally coined by intellectual powerhouse and policy economist Arthur M. Okun in the 1970s as the “discomfort index,” the sum of these two rates is now known simply as the U.S. Misery Index.
The current U.S. Misery Index stands at a crippling 11.96%.
The reality in America consists of rising gas prices, a tanking stock market, climbing mortgage rates, and a much weaker dollar. Whether they admit it or not, we’re already in a recession and are barreling headlong towards a depression that’s fueled by the failed economic policies of the Democratic Party. If this is what Build Back Better actually means, count me out, Jack.
President Trump's stock market hit 126 new all-time highs.— Lance Gooden (@Lancegooden) September 24, 2022
Joe Biden's stock market is 1,400 points lower than when he took office.
Remember the good ol’ days of just a few short years ago? The economy was humming even as the pandemic took hold. Now Bideninflation remains in the stratosphere, and the feds are considering raising interest rates yet again. Americans are tightening their belts in uncomfortable ways while our borders are wide open, crime is rising, and our kids are suffering from countless draconian Democratic policies.