The nation's economy is getting worse under Obama, according to an objective mathematical measurement of the nation's economic indicators released Friday by Congressman Steve Stockman (R-Texas 36.)
April's Obama Failometer Score ballooned to 1,253 from March's score of 1,155. Since its creation Obama has failed to generate a Failometer score that can be contained within the chart's range of zero to 1000.
The Obama Failometer uses a fixed mathematical score to calculate four economic indicators from the Bureau of Labor Statistics. The figures from the monthly reports are weighted to provide a balanced total score, which ranges from zero to 1,000. A score of 0 represent economic stability and racial equality. The higher the score, the deeper the economic failure.
"Obama's Failometer rating of 1,253 represent massive and growing personal suffering because of his failed policies," said Stockman.
"Job creation is nearly dead under Obama and nowhere near what we need to recover. Americans are giving up looking for work under Obama in numbers unseen since Carter. Black and Hispanic unemployment have grown to epidemic levels under Obama," said Stockman.
"People are suffering because of Obama is sinking deeper into his personal agenda of high taxes and attacks on job creators rather than creating a rising tide of prosperity," said Stockman. "We use an objective, weighted mathematical formula so you can't tinker or fudge the numbers. It provides a no-nonsense, honest assessment of Obama's destructive agenda."
The Obama Failometer Score was originally displayed on a ten-foot-long billboard displayed in the hallways of the Capitol's Cannon House Office building. House officials ordered it torn down in January after Democrats complained.
"The Obama Failometer may not be allowed in Congress but it will be back somewhere, and bigger," said Stockman. "Tearing it down created more labor than Obama has."
Here is how the Obama Failometer Score is calculated:
FACTORS MEASURED AGAINST BUSH
Monthly jobs created: The Hamilton Project, a liberal economic policy group, states the economy must create 321,000 jobs a month in order to return the economy to pre-recession employment levels by December 2016, the end of Obama's term.
Obama promised to not only restore the economy to where it was under Bush, but grow it. So far Obama has failed to even perform as well as Bush.
This Obama Failometer score portion is calculated by subtracting the number of jobs created in the previous month from the 321,000 jobs claimed necessary by the liberal Hamilton Project and dividing by 1,000 to balance it against other factors.
The BLS reports the economy created 88,000 jobs in March, 233,000 fewer than needed to restore the economy. This portion of the April Obama Failometer Score is 233.
Civilian labor force participation rate: The civilian labor force participation rate, the ratio between those 16 and over in the labor force against the national population of those 16 and over, is an important measure of economic health. After puttering along during the Bush administration, including through the "Bush years" of the recession, under Obama it has plunged sharply.
This Obama Failometer score portion is calculated by subtracting the monthly civilian labor force participation rate from the average Bush administration rate and multiplying by 100 to balance it against other factors. According to data from the BLS, under Bush the average monthly civilian labor force participation rate was around 66.2 percent.
The Bureau of Labor Statistics reports the monthly civilian labor force participation rate for March fell to 63.3 percent, close to the record low and a gap against Bush of 2.9 percent. This portion of the April Obama Failometer Score is 290.
FACTORS MEASURED AGAINST OBAMA'S OWN RHETORIC
Black unemployment: No one has suffered more economically under Obama than black Americans. Obama's election and re-election has meant crippling poverty for the black community.
This Obama Failometer score portion is calculated by taking the monthly unemployment rate for blacks and subtracting the monthly unemployment rate for all Americans, and multiplying it by 100 to balance it against other factors.
The Bureau of Labor Statistics reports the black unemployment rate for January was a depressing 13.3 percent, while the national overall rate was 7.6 percent. That is a gap of 5.7 percent. This portion of the April Obama Failometer Score is 570.
Compare Obama's performance to Bush's. The highest monthly unemployment rate ever for blacks under Bush was 12.1 percent. Obama's lowest rate was 12.7 percent in January, a figure he largely inherited. His next lowest was 13.5 percent in March 2009. He has never performed as well as Bush's worst black unemployment rate.
Bush's average black unemployment rate was 9.7 percent and an overall national average of 5.2 percent, a 4.5 percent gap that gives Bush a score of 450.
Hispanic unemployment: Despite winning the Hispanic vote, Obama's liberal policies have caused widespread damage to the Hispanic community. Thanks to Obama, they continue to lag behind the national average in many economic factors.
This Obama Failometer score portion is calculated by taking the monthly unemployment rate for Hispanics and subtracting the monthly unemployment rate for all Americans, and multiplying it by 100 to balance it against other factors.
The Bureau of Labor Statistics reports the Hispanic unemployment rate for March was a stunning 9.2 percent, while the national overall rate was 7.6 percent. That is a gap of 1.6 percent. This portion of the April Obama Failometer Score is 160.
The Hispanic unemployment rate hit its all-time historic low of 4.7 percent during Bush's last term. It is almost twice that rate under Obama.
THEREFORE, APRIL'S OBAMA FAILOMETER SCORE IS 1253.
Obama can set the Failometer to zero by outperforming Bush on the economy and fulfilling his 2008 and 2012 campaign promises to help blacks and Hispanics gain economically.