You may remember that the Obama administration produced a chart by in January 2009 to demonstrate their view that unemployment would never rise about 8% if his stimulus package were passed. However, we now know that unemployment has in fact been greater than 8% for every single month of Obama’s Presidency. The chart to the left (click to enlarge) is an updated version of one we have reviewed here before by James Pethokoukis. It is the administration’s original chart with actual unemployment since the “recovery plan” was implemented with an additional dot added showing where unemployment would be if the labor participation rate were the same today as it was in January 2009.

However, what may be even more interesting is this chart below (click to enlarge) by Political Calculations. It shows what the unemployment rate would be from January 2002 until today if the labor force participation rate were the same as in January 2009:

On the Bush side of the chart, you can see far more people choosing to work or seek work than during the Obama years, which is why unemployment would be lower pre-2009 with the same participation rate as post-2009, despite the population increasing. Furthermore, you can also see that by January 2010, the unemployment rate assuming labor participation were the same as January 2009 stabilizes at 11%, which has for the past 2.5 years become the new normal.

If Mitt Romney is to win, he needs to continue simplifying his message. The first chart shown here, based on the Obama administration’s original chart, would go a long way to drive home support for his campaign focused on turning around the economy.

Comments

  • W. Kone

    The CBO declared some where between 1.4 million and 3.6 million jobs were created by the $831 billion Stimulus plan passed by the Democratic House, Democratic Senate and signed by the Democratic President.

    Hmm, $831 billion divided by 3.6 million equals close to $250,000. Sorry, I call that a fail. For $486 billion the Gov could have sent 3.6 million people checks for $45,000 each for three years. Or for $550 billion could have installed a 2.4 kWh Solar PV system on every owner occupied home.

    Sorry, but spending $250,000 per job “saved” is a big fail. I know even the best paid union worker did not get that.

    • Anonymous

      I would rather have had the 45K. I could have bought a house for cash, used the extra cash per month to pay off my debt and then save nearly a grand a month towards retirement.

  • W. Kone

    The CBO declared some where between 1.4 million and 3.6 million jobs were created by the $831 billion Stimulus plan passed by the Democratic House, Democratic Senate and signed by the Democratic President.

    Hmm, $831 billion divided by 3.6 million equals close to $250,000. Sorry, I call that a fail. For $486 billion the Gov could have sent 3.6 million people checks for $45,000 each for three years. Or for $550 billion could have installed a 2.4 kWh Solar PV system on every owner occupied home.

    Sorry, but spending $250,000 per job “saved” is a big fail. I know even the best paid union worker did not get that.

    • Anonymous

      I would rather have had the 45K. I could have bought a house for cash, used the extra cash per month to pay off my debt and then save nearly a grand a month towards retirement.

  • Lyn S

    I guess $3.72 per gallon gas doesn’t rate being covered by the media or talked about by the Romney team. Seriously, do you know how much of an impact these prices have on each and every citizen? Since Obama took office with $1.79/gallon, at our current price, the average family now spends between $1,800 and $2,000 more per year on gas! http://www.GASrageous.com

    • dw

      If we stopped the Federal government’s corporate welfare programs and eliminated the ethanol program, gas would be much cheaper, as would the price of many groceries.

      Brian – where does Romney stand on this?

  • Lyn S

    I guess $3.72 per gallon gas doesn’t rate being covered by the media or talked about by the Romney team. Seriously, do you know how much of an impact these prices have on each and every citizen? Since Obama took office with $1.79/gallon, at our current price, the average family now spends between $1,800 and $2,000 more per year on gas! http://www.GASrageous.com

    • dw

      If we stopped the Federal government’s corporate welfare programs and eliminated the ethanol program, gas would be much cheaper, as would the price of many groceries.

      Brian – where does Romney stand on this?

  • Alaina

    Nice charts… the second one says it all for me.

  • Alaina

    Nice charts… the second one says it all for me.