Record 1.2 million people fall out of labor force.

[CitadelGrad]

http://www.zerohedge.com/news/record-12 ... e-tumbles-

http://video.cnbc.com/gallery/?video=3000071275

[mainejeff]

Almost as bad as when Reagan was President.

[CitadelGrad]

Almost as bad as when Reagan was President.

Unemployment fell significantly during Reagan's two terms.

[Skjellyfetti]

Almost as bad as when Reagan was President.

Unemployment fell significantly during Reagan's two terms.

Unemployment was 7.5% in January of 1981 when Reagan came into office.
Unemployment was 7.8% in January of 2009 when Obama came into office.

Unemployment was 8.0% in January of 1984.
Unemployment was 8.3% in January of 2012.

In an equivalent time in their first terms unemployment went up .5%.

Keep spinning.



http://data.bls.gov/pdq/SurveyOutputServlet" onclick="window.open(this.href);return false;

[mainejeff]

Almost as bad as when Reagan was President.

Unemployment fell significantly during Reagan's two terms.

But was horrible during most of his 1st term...........

[LeadBolt]

Unemployment fell significantly during Reagan's two terms.

But was horrible during most of his 1st term...........

I don't seem to remember Reagan blaming Carter after his first year, as Obama continued to blame Bush...

[mainejeff]

But was horrible during most of his 1st term...........

I don't seem to remember Reagan blaming Carter after his first year, as Obama continued to blame Bush...

Wow.......you remember his speeches from 30+ years ago? Good memory.

[LeadBolt]

I don't seem to remember Reagan blaming Carter after his first year, as Obama continued to blame Bush...

Wow.......you remember his speeches from 30+ years ago? Good memory.

Nice side step and deflection...

[mainejeff]

Wow.......you remember his speeches from 30+ years ago? Good memory.

Nice side step and deflection...

Do you remember them or not? Man, you must have whacked off to Reagan posters if you remember all of his speeches!

[LeadBolt]

Nice side step and deflection...

Do you remember them or not? Man, you must have whacked off to Reagan posters if you remember all of his speeches!

I voted for Carter and not Reagan, and yes I do remember, obviously you do not.

[CitadelGrad]

Unemployment fell significantly during Reagan's two terms.

Unemployment was 7.5% in January of 1981 when Reagan came into office.
Unemployment was 7.8% in January of 2009 when Obama came into office.

Unemployment was 8.0% in January of 1984.
Unemployment was 8.3% in January of 2012.

In an equivalent time in their first terms unemployment went up .5%.

Keep spinning.



http://data.bls.gov/pdq/SurveyOutputServlet" onclick="window.open(this.href);return false;

Would you like to address the inflation and interest rates that Reagan inherited? How do they compare to the interest rates and inflation rates that Obama inherited? Extra credit: How did Federal Reserve (monetary) policy differ during the first terms of the Reagan and Obama presidencies?

Why do I constantly have to teach you Econ 101?

[mainejeff]

Do you remember them or not? Man, you must have whacked off to Reagan posters if you remember all of his speeches!

I voted for Carter and not Reagan, and yes I do remember, obviously you do not.

http://www.nytimes.com/2010/01/18/opini ... ugman.html" onclick="window.open(this.href);return false;

[mainejeff]

Would you like to address the inflation and interest rates that Reagan inherited? How do they compare to the interest rates and inflation rates that Obama inherited? Extra credit: How did Federal Reserve (monetary) policy differ during the first terms of the Reagan and Obama presidencies?

Why do I constantly have to teach you Econ 101?

Unemployment soared during Reagan's 1981 tax cut......isn't that what we are talking about?

[Baldy]

Do you remember them or not? Man, you must have whacked off to Reagan posters if you remember all of his speeches!

I voted for Carter and not Reagan, and yes I do remember, obviously you do not.

Of course not, geoff was too busy whacking off to Scott Baio and Corey Haim posters in the early 80's.

[mainejeff]

I voted for Carter and not Reagan, and yes I do remember, obviously you do not.

Of course not, geoff was too busy whacking off to Scott Baio and Corey Haim posters in the early 80's.

Who the hell are they?

Go to bed.

[CitadelGrad]

Would you like to address the inflation and interest rates that Reagan inherited? How do they compare to the interest rates and inflation rates that Obama inherited? Extra credit: How did Federal Reserve (monetary) policy differ during the first terms of the Reagan and Obama presidencies?

Why do I constantly have to teach you Econ 101?

Unemployment soared during Reagan's 1981 tax cut......isn't that what we are talking about?

So the tax cuts that were passed in 81 and didn't take effect until 82 were responsible for rising unemployment?

All of this time I thought it was Paul Volker raising interest rates and sending the economy into a recession that cause rising unemployment in 81 and 82. Silly me. I had it all wrong. Tax cuts actually lead to higher unemployment.

I'm glad we had this little conversation. I feel so much smarter now.

[Gil Dobie]

Unemployment fell significantly during Reagan's two terms.

Unemployment was 7.5% in January of 1981 when Reagan came into office.
Unemployment was 7.8% in January of 2009 when Obama came into office.

Unemployment was 8.0% in January of 1984.
Unemployment was 8.3% in January of 2012.

In an equivalent time in their first terms unemployment went up .5%.

Keep spinning.



http://data.bls.gov/pdq/SurveyOutputServlet" onclick="window.open(this.href);return false;

Good chart, 2007 was when the Donks took over congress, 2011 the Conks got it back.

[Skjellyfetti]

Good chart, 2007 was when the Donks took over congress, 2011 the Conks got it back.

First of all, the Conks didn't get Congress back. The Donks still control the Senate.

Second, should I bother to tell you who controlled the House during the economic recovery in the 1980's.

I'm sure you give the Democrat led House the same credit for the recovery that you are trying to give to the Republican led house. Right?

[Gil Dobie]

Good chart, 2007 was when the Donks took over congress, 2011 the Conks got it back.

First of all, the Conks didn't get Congress back. The Donks still control the Senate.

Second, should I bother to tell you who controlled the House during the economic recovery in the 1980's.

I'm sure you give the Democrat led House the same credit for the recovery that you are trying to give to the Republican led house. Right?

There was a balance in the 1980's, Conk in the White House, Donks in Congress.

[SeattleGriz]

I voted for Carter and not Reagan, and yes I do remember, obviously you do not.

http://www.nytimes.com/2010/01/18/opini ... ugman.html" onclick="window.open(this.href);return false;

Krugman cannot be used to back anything up, other than being wrong.

[kalm]

It's cyclical. Obama and Reagan have very little to do with economy. It was bound to go back up eventually. And they both spent their way to prosperity.

[mainejeff]

It's cyclical. Obama and Reagan have very little to do with economy. It was bound to go back up eventually. And they both spent their way to prosperity.

You mean that St. Reagan and Obama did they same thing?

[CitadelGrad]

Good chart, 2007 was when the Donks took over congress, 2011 the Conks got it back.

First of all, the Conks didn't get Congress back. The Donks still control the Senate.

Second, should I bother to tell you who controlled the House during the economic recovery in the 1980's.

I'm sure you give the Democrat led House the same credit for the recovery that you are trying to give to the Republican led house. Right?

Actually it wasn't the House, it was the Senate. Many senior Dem senators were instrumental in getting the tax cuts passed. There wasn't much support for the tax cuts among the House Dem leadership, but there were enough moderate and conservative House Dems who were willing to follow the lead of the Senate.

[native]

Unemployment fell significantly during Reagan's two terms.

But was horrible during most of his 1st term...........

Pew has published an excellent analysis of this topic:

http://pewresearch.org/pubs/1476/unempl ... agan-obama" onclick="window.open(this.href);return false;

Annual annual unemployment rates since 1980, from the Bureau of Labor Statistics:
1980 7.1
1981 7.6
1982 9.7
1983 9.6
1984 7.5
1985 7.2
1986 7.0
1987 6.2
1988 5.5
1989 5.3
1990 5.6
1991 6.8
1992 7.5
1993 6.9
1994 6.1
1995 5.6
1996 5.4
1997 4.9
1998 4.5
1999 4.2
2000 4.0
2001 4.7
2002 5.8
2003 6.0
2004 5.5
2005 5.1
2006 4.6
2007 4.6
2008 5.8
2009 9.3
2010 9.6

[native]

"...As of December 2011, there were 13.1 million unemployed workers in the United States, an increase of more than 5 million since the Great Recession officially began in December 2007. Even worse, 5.6 million of those workers (42.5 percent) fall under the category of “long-term unemployed” — they’ve been jobless for 27 weeks or more. Since the end of World War II, we’ve never seen anything close to such a disaster; the previous high, in the aftermath of the 1981 recession, was only 25 percent. ..."

- Andrew Leonard, Salon