Out­do­ing Carter

The Washington Times Weekly - - Letters To The Editor -

Many of you are too young to have di­rect knowl­edge and have learned only re­vi­sion­ist his­tory of Pres­i­dent Carter’s ad­min­is­tra­tion, and are un­fa­mil­iar with the “Mis­ery In­dex”, which was a mea­sure of the man’s failed eco­nomic poli­cies.

Last month CNBC res­ur­rected the in­dex us­ing to­day‘s num­bers: 9.1 per­cent un­em­ploy­ment plus 3.6 per­cent Con­sumer Price In­dex (CPI) equal­ing a 12.7per­cent mis­ery in­dex.

High as that seems, it is much lower than the real in­dex as it was cal­cu­lated dur­ing the Carter ad­min­is­tra­tion. Con­sult­ing Econ­o­mist John Wil­liams at shad­ow­stats.com pro­vides us num­bers to cal­cu­late as in the past: 22.3 per­cent un­em­ploy­ment plus 11.2 per­cent CPI equals a 33.5 per­cent mis­ery in­dex, which is the Obama in­dex com­pa­ra­ble to Mr. Carter’s.

The above num­bers re­sult from in­clud­ing the mar­ginal and dis­cour­aged unem­ployed plus food and en­ergy into the CPI so as to ar­rive at the in­dex num­ber which we ac­tu­ally ex­pe­ri­ence. The Carter mis­ery in­dex was 22.0 per­cent when Pres­i­dent Rea­gan took of­fice.

Gov­ern­ment has been ma­nip­u­lat­ing un­em­ploy­ment and in­fla­tion mea­sures so as to min­i­mize our dire eco­nomic straits. Mr. Obama’s speeches blam­ing Ge­orge W. Bush, Repub­li­cans, and vir­tu­ally, ev­ery­one but him­self are very much like Mr. Carter’s “Malaise” speech in 1979 blam­ing the peo­ple’s “Cri­sis of Con­fi­dence” for his fail­ure. Jerome (Jack) Lorenz Mills River, North Carolina

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