Will we be talking about the misery index again? Jimmy Carter came up with that term during his 1976 presidential campaign--the misery index was the sum of the inflation rate and the unemployment rate. Four years later it was higher--and only Ronald Reagan was bringing it the misery index--and we never had to suffer from Carter's second term.Unless you count Obama's first term as Carter's second.
After the Democratic debacle on Election Day, Federal Reserve Chairman Ben Bernanke pumped up the economy with $600 billion in free money. Yep, free. But that could lead to inflation and since the unemployment rate is close to 10 percent....well, it could soon be Welcome Back, Carter Time.
Fortunately there are some level headed people in Washington, among them are Senate Minority Leader Mitch McConnell (R-KY), GOP Senate second-in-command Jon Kyl (R-AZ), incoming House Speaker John Boehner (R-OH), and incoming House Majority Leader Eric Cantor (R-VA). In a letter to the Fed chairman, they called expressed "deep concerns" over Bernanke's actions.
Technorati tags:
Jimmy Carter 
Barack Obama 
Obama 
Politics 
news 
democrats 
history 
gop 
Senate 
McConnell 
Kentucky gop 
john boehner 
congress 
ohio
No comments:
Post a Comment