Jeff Cox of CNBC.com reports on June 17, 2011 that the Misery Index of Americans is at a 28-year high, of “a nausea-inducing” 12.7% — a number not seen since 1983.
First compiled by economist Arthur Okun during the soaring inflation days of the 1970s, the Misery Index is derived from adding the unemployment rate (currently at 9.1%) and the rate of inflation (3.6% for annualized inflation).
Since our government “conveniently” does not include food and gas prices in the rate of inflation, if those were included, America’s real inflation rate is actually much higher than 3.6%.
To be fair, Obama in 2008 never did say what exactly it is that we “can” do, nor did he specify who “we” are.
Yes, He indeed Can Ruin America!