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Thread: Unemployment: Obama Versus Reagan

  1. #1

    Default Unemployment: Obama Versus Reagan

    Attached is a chart comparing unemployment under Obama for the first 20 months of his presidency to unemployment under Reagan for a similar period of his presidency. Obama in blue, Reagan in red.Attachment 2704


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  2. #2

    Default Re: Unemployment: Obama Versus Reagan

    Quote Originally Posted by TheEvilDrEvil View Post
    Attached is a chart comparing unemployment under Obama for the first 20 months of his presidency to unemployment under Reagan for a similar period of his presidency. Obama in blue, Reagan in red.Attachment 2704


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    Wow, that shows a lot. You can see what a wonderful president Reagan was for the economy from that. :

  3. #3

    Default Re: Unemployment: Obama Versus Reagan

    Quote Originally Posted by coachsparky View Post
    Wow, that shows a lot. You can see what a wonderful president Reagan was for the economy from that. :
    It couldn't be that the recessions occurred at slightly different time periods toward the end of the preceding President's term in office or anything, right? If there was one President that was worse than Bush since the 1960s it's Carter... and he only had four years to screw up.
    Last edited by Schlottke; 10-15-2010 at 08:35 AM.

  4. #4

    Default Re: Unemployment: Obama Versus Reagan

    Quote Originally Posted by Schlottke View Post
    It couldn't be that the recessions occurred at slightly different time periods toward the end of the preceding President's term in office or anything, right? If there was one President that was worse than Bush since the 1960s it's Carter... and he only had four years to screw up.
    I think the point is, unemployment was very low when Reagan took office and he helped it go from 7.5% and holding steady when he took office and 9 months later it started a steep climb to 10+ 21 months latter. Unemploment had already begun a steep climb when Obama took office and he has gotten it to steady out.

  5. #5

    Default Re: Unemployment: Obama Versus Reagan

    I'd like to know where that chart came from and who put it together. There is no link on it nor any way to know what study or group of data it comes from. I'd also like to know what they counted as employment. Did they count the census workers?
    Quote Originally Posted by Flop The Nuts View Post
    [D]on't let lack of knowledge impact your ability to post as if you are knowledgeable.

  6. #6

    Default Re: Unemployment: Obama Versus Reagan

    I put the chart together myself. The data comes from the Bureau of Labor Statistics. It's the standard definition of unemployment which includes census workers. Government employees have always been considered when calculating the unemployment rate. There is a minor increase in unemployment under Obama when they finished with the census workers, around month 15 and 16. So census workers just make a tiny bump in the big picture.

    Here are other sources confirming the data:
    http://www.miseryindex.us/URbymonth.asp
    and
    http://www.tradingeconomics.com/Econ...spx?Symbol=USD
    and
    ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt
    and
    http://en.wikipedia.org/wiki/File:US..._1890-2009.gif
    and
    http://www.bls.gov/cps/prev_yrs.htm
    and
    http://smartunemployment.com/2010/hi...loyment-rates/
    and
    http://www.friesian.com/stats.htm
    and
    http://www.scribd.com/doc/13282170/U...1930s-vs-Today
    and
    http://www.davemanuel.com/historical...ted-states.php
    Last edited by TheEvilDrEvil; 10-15-2010 at 04:09 PM.

  7. #7

    Default Re: Unemployment: Obama Versus Reagan

    Quote Originally Posted by coachsparky View Post
    I think the point is, unemployment was very low when Reagan took office and he helped it go from 7.5% and holding steady when he took office and 9 months later it started a steep climb to 10+ 21 months latter. Unemployment had already begun a steep climb when Obama took office and he has gotten it to steady out.
    This is a succinct summary. In fact, if you go back a little further, you will see that the unemployment was under mild decline as Reagan came in. What is most interesting is that Reagan passed his tax cuts by month 8 (the Economic Recovery Tax Act of 1981), and that's exactly preceding when unemployment started to surge under Reagan. If one wants to argue that tax cuts helped unemployment, we certainly don't see any evidence of that for the first 16 months from when the tax cuts were passed. In contrast, unemployment was already on its way up fast the day Obama took office. The surge started approximately April 2008 and unemployment was increasing by .4% points per month from that time until Obama took office. By June, that unemployment growth had slowed down substantially, and after October, it started to decline.

    People who hail Reagan as some big jobs creator and criticize Obama for jobs are talking from fantasy rather than fact. The facts are here. When theory disagrees with reality, which do you trust?

  8. #8
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    Default Re: Unemployment: Obama Versus Reagan

    The unemployment rate of the 80s was a byproduct of the inflation rates generated under Carter's mismanaged economic policy of the late 70's. That's right price inflation of 15% in a single year under Carter. The prime maxed at 21%. Home loans are 17%! and only with balloon payments. The recession of the 80's like this most recent one was predicted long before the unemployment rates were rising. It was Reagan that righted the ship.

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  9. #9

    Default Re: Unemployment: Obama Versus Reagan

    Quote Originally Posted by TheEvilDrEvil View Post
    People who hail Reagan as some big jobs creator and criticize Obama for jobs are talking from fantasy rather than fact. The facts are here. When theory disagrees with reality, which do you trust?
    The only reality here is that Carter was an awful President. Everyone in America knew it which is why he got absolutely crushed in his reelection bid.

    We'd probably still be trying to fix it if he had another four years.
    Last edited by Schlottke; 10-15-2010 at 06:49 PM.

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