Toro
Diamond Member
Unfortunately the country is not!
In September of 1982 the unemployment rate was 10.1% and the economy was in recession.
That would make you factually incorrect, at least vs. Reagan.
Oh, and btw, it was this month in 1982 that Reagan signed the biggest tax increase in history.
Didn't get the memo.....they announced last year that they were changing the way the calculate unemployment now. I think this was done to keep the rate below 10 percent.
The real unemployment rate is somewhere around 20 percent.
Please provide a link that Reagan signed the biggest tax increase in history....to date. Not biggest increase in 1982.
The highest rate of unemployment under Reagan was 10.8%. The discontinued U-7 series, which closely approximates the U-6 series today, under Reagan was just under 16% at the peak. Today it is 16.7%. There is no evidence that the change in the U-3 series significantly altered how the rate of unemployment was calculated.
But there is a big difference in this recession and the recession of the early 1980s. During Bush's time in office, nonfarm payrolls were negative 40 or 96 months. Bush experienced a balance sheet recession caused by the collapse of the Tech Bubble. Obama is facing the same phenomenon, only it is multiples times bigger. Reagan faced a recession caused by skyrocketing inflation. This recession and the recessions of the early 1980s are two very different animals.