Fact vs. Myth: Real Unemployment Rate (U-6) -- Obama vs. Bush

[edthecynic]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

 

[edthecynic]

it places blame on a bipartisan basis.

Whenever the GOP completely screws everything up, the Right claims the screwup was "bipartisan."

 

[Skylar]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

(And it's worth noting that the Great Recession was needlessly made worse by senseless federal regulations such as the ridiculous federal mark-to-market regulations. Those regulations were later quietly changed, in recognition of the damage they had done during the early stages of the recession. For more on the damage done by the federal mark-to-market restrictions, see Suspend Mark-To-Market Now - Forbes and The mark to market fiasco.)

U-3 was the unemployment rate cited during Bush's term. U-3 is what we're using now. We almost never use U-6.. Why would we suddenly start now?

 

[Faun]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

Oh, please. The dot-com bubble burst in early 2000 while Bush was still safely in Texas. Although it is true that the economy was not in recession when he became president, it was on a down turn.

 

[EdwardBaiamonte]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

 

[Faun]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

(And it's worth noting that the Great Recession was needlessly made worse by senseless federal regulations such as the ridiculous federal mark-to-market regulations. Those regulations were later quietly changed, in recognition of the damage they had done during the early stages of the recession. For more on the damage done by the federal mark-to-market restrictions, see Suspend Mark-To-Market Now - Forbes and The mark to market fiasco.)

U-3 was the unemployment rate cited during Bush's term. U-3 is what we're using now. We almost never use U-6.. Why would we suddenly start now?

Conservatives have a new found love for the U-6 rate because it's higher than the U-3; thereby sounding worse for Obama. What the skanks don't get is that by any measure, unemployment is down under Obama.

 

[EdwardBaiamonte]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

liberals forgave FDR for 12 years of depression so Obama is a huge hero to them!!

 

[Faun]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

Leave it to an imbecile to criticize Obama because the economy isn't as strong as it was while it was artificially inflated by a bubble. A bubble, by the way, which cratered our economy when it burst. And here you are, pining to return.

 

[EdwardBaiamonte]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

Leave it to an imbecile to criticize Obama because the economy isn't as strong as it was while it was artificially inflated by a bubble. A bubble, by the way, which cratered our economy when it burst. And here you are, pining to return.

dear 11.3 % is very high by historical standards. Maybe to be expected now given that liberals unions and taxes have chased 40 million jobs off shore and ever growing liberal entitlements make mooching seems aacceptable.

 

[CowboyTed]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

Think of it this way... You have just said something as thick as dogshit and you probably have a job. Obama must be great.

 

[Faun]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

Leave it to an imbecile to criticize Obama because the economy isn't as strong as it was while it was artificially inflated by a bubble. A bubble, by the way, which cratered our economy when it burst. And here you are, pining to return.

dear 11.3 % is very high by historical standards. Maybe to be expected now given that liberals unions and taxes have chased 40 million jobs off shore and ever growing liberal entitlements make mooching seems aacceptable.

There isn't much history since it only goes back to 1994 when it changed. Regardless, it is down under Obama. It nearly doubled under Bush.

 

[edthecynic]

The real unemployment rate, the one that most media talking heads rarely mention, is called the U-6, and according to the Department of Labor, the U-6 rate is now 11.3%. Under Obama the U-6 has been as high as 17%. See:

Chart What s the real unemployment rate

U6 Unemployment Rate Portal Seven

The Big Lie 5.6 Unemployment

In contrast, under George W. Bush, the U-6 stayed below 10% for the vast majority of his presidency, and it didn't go above 12% until the last three months of his second term. That sharp upswing came because of the Great Recession in 2008, which was largely caused by massive--and disastrous--federal intervention in the home loan industry (via Fannie Mae, Freddie Mac, and the CRA), which led to the housing crisis, which in turn triggered--and largely caused--the Great Recession. And that recession was needlessly made worse by senselss federal regulations such as the Sarbanes-Oxley mark-to-market regulation, which was later quietly changed in recognition of the damage it had done during the early stages of the recession. See:

Did Deregulation and Capitalism Cause the Financial Crisis

One BIG contrast is that unlike Bush, Obama inherited the worst recession since the Great Depression. That being the biggisest reason the U6 rate went up as high as 17.1%. And while the U3 rate is the official unemployment rate, by any measure, it almost doubled under Bush and has come down under Obama.

Your other nonsense about the CRA has been debunked repeatedly.

yes real unemployment is now 11.3% about 40% higher than before recession thanks to Barry's idiotic socialist moves designed to help!!

But better than Bush's 71% higher then before the Great Bush recession that Bush passed to Obama thanks to Bush's idiot Capitalist moves designed to damage.

 

[Freewill]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

 

[CowboyTed]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

- President George W. Bush, Oct. 15, 2002

Looks like someone wanted everyone to own their own home.

 

[Freewill]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

- President George W. Bush, Oct. 15, 2002

Looks like someone wanted everyone to own their own home.

I do too, and i bet you do. But that does not mean I create a system doomed to failure so everyone can have a home.

 

[edthecynic]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

The GOP controlled Congress during the run up to both bubbles and own both crashes

 

[The Rabbi]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

- President George W. Bush, Oct. 15, 2002

Looks like someone wanted everyone to own their own home.

Certainly not the case now. Home ownership is at all time lows. People dont have the confidence to buy a home and settle down. They may have to move for a new job at any time.
Thanks, Obama!

 

[NYcarbineer]

[

And who was it who blocked every attempt to reform Freddie and Fannie to stop them from such reckless behavior? Which party trotted out their usual rich-vs.-poor demagoguery and played the race card and implied that people who wanted to stop Freddie and Fannie from backing so many sub-prime home loans didn't want minorities and the poor to own homes? If anyone has any doubt, this is all documented on YouTube, among other sources.

Good question. Easy answer:

June 17: Bush unveils his "Blueprint for the American Dream".[85] He sets goal of increasing minority home owners by at least 5.5 million by 2010 through billions of dollars in tax credits, subsidies and a Fannie Mae commitment of $440 billion to establish NeighborWorks America with faith based organizations.[86]

 

[Agit8r]

"50% of subprime loans were made by mortgage service companies not subject to comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations."

Community Reinvestment Act had nothing to do with subprime crisis - BusinessWeek

 

[CowboyTed]

Bush inherited a recession

Bush burst the dot com bubble and then he burst the housing bubble, both created by the GOP Congress.

How could any president be the cause of a dot.com bust his first 1/2 year in office? And no, it was the democrats that caused the housing crisis, take responsibility for a change.

"We can put light where there's darkness, and hope where there's despondency in this country. And part of it is working together as a nation to encourage folks to own their own home."

- President George W. Bush, Oct. 15, 2002

Looks like someone wanted everyone to own their own home.

Certainly not the case now. Home ownership is at all time lows. People dont have the confidence to buy a home and settle down. They may have to move for a new job at any time.
Thanks, Obama!

Rabbi,

Serious case of ODS... The evidence is obvious... You're irrational hatred for Obama is worrying...

You need help... Obama financial record is better than any Republican President in 50 years.

Rabbi you have tried to screw every stat possible against Obama to laughable proportions.

Yet you can't explain rationally the source of your hate for Obama.

Why have you not held Regan to same standards when he introduced his social policies?