In Jan. '81 when Reagan took office the U/E rate was 7.50%. In Jan. '82, a year later it was 8.60% and rising. In July of '82 it was 9.80% and rose steadily until topping out at 10.80% almost 2 years after his inauguration in Nov. and Dec. of '82.
Once topping at 10.80% it didn't fall below 10% until July of '83...2 yrs. 6 mos. after taking office.
In Jan. 09 when Obama took office the U/E rate was 7.70%. In Jan. '10, a year later it was 9.70% and falling (after topping out at 10.10 in October of '09). It has dropped slightly and stood at 9.50% in Jun '10.
The U/E rate under Obama topped out at 10.10% 9 months after Obama took office and was below 10% on the anniversary of his inauguration and has declined ever since standing at about 9.40% today (1 yr. 6mos).
By all accounts this economy was/is worse than that inherited by Reagan....Hopefully this puts things in a little more perspective.
What is laughable is how the GWB shills at Fox (Hannity and the gang) whined compulsively over Bush inheriting a Clinton recession with an U/E rate of 4%. Then Bush turns around to hand his successor an U/E rate nearly double, a bankrupt financial institution, auto industry and 2 wars.:1orglaugh:1orglaugh
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Once topping at 10.80% it didn't fall below 10% until July of '83...2 yrs. 6 mos. after taking office.
In Jan. 09 when Obama took office the U/E rate was 7.70%. In Jan. '10, a year later it was 9.70% and falling (after topping out at 10.10 in October of '09). It has dropped slightly and stood at 9.50% in Jun '10.
The U/E rate under Obama topped out at 10.10% 9 months after Obama took office and was below 10% on the anniversary of his inauguration and has declined ever since standing at about 9.40% today (1 yr. 6mos).
By all accounts this economy was/is worse than that inherited by Reagan....Hopefully this puts things in a little more perspective.
What is laughable is how the GWB shills at Fox (Hannity and the gang) whined compulsively over Bush inheriting a Clinton recession with an U/E rate of 4%. Then Bush turns around to hand his successor an U/E rate nearly double, a bankrupt financial institution, auto industry and 2 wars.:1orglaugh:1orglaugh
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