Calculated Risk's chart gallery is a great resource for those who wish to cut through the verbiage and understand the challenges we face.
This recent chart is chilling: It is a chronological boom-and-bust display since 1960. (Click on the graph for a better view.)
The really bad stuff began about 1969, when Nixon abandoned reason and hard money at the same time. However, Jimmy Carter, who blessedly served only one term, left us in near-shambles, due to his ineptitude. His departure in 1981 is simultaneous to a deep recession and spike in unemployment. OS remembers those dark days much too well.
The red line is the unemployment rate. The blue is the 'participation rate', e.g. those still active in the workforce, either working or seeking employment. The black line is the percentage of total population in the active workforce.
Compare now to 1981/1982. Pretty ugly, is it not? Those who predicted Obama Term 1 would equal Carter Term 2 were actually pretty cogent.
The official unemployment rate is now 9.8%. The true rate is about double that.
Obama and the Democrat leadership remain unrepentant. Not surprising: So is Jimmy Carter.
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