Red Alert: Obama Failometer score grows to all-time high as economy tanks under Democrats

Press Release

Obama continues to perform worse than Bush on economy
- Monthly job growth collapses by 33%
- Civilian labor force rate falls again, ties nearly-four decade low
- Black unemployment significantly higher than under Bush
- Objective mathematical formula shows an economy teetering on collapse

WASHINGTON -- The nation's economy is at its weakest point under Obama, according to an objective mathematical measurement of the nation's economic indicators released Monday by Congressman Steve Stockman (R-Texas 36.)

The "Obama Failometer Score" grew to 1,299 for August. That is the highest score ever recorded since the mathematical formula was developed in January 2013.

"Obama's aggressive wealth redistribution schemes and increasingly autocratic dictates are destroying confidence in the economy. It's no wonder job creators are fleeing the United States in record numbers," said Stockman. "Barack Obama and Senate Democrats are condemning millions of formerly working Americans to a life of poverty and hopelessness."

"The economy won't grow until Obama's power shrinks," said Stockman. "If we were measuring unemployment using the same figures we used under Bush it would show things are even worse under Obama. But the media won't tell you that."

The administration reports only 142,000 jobs were created in August, a drastic plunge from the 212,000 reported jobs created in July.

Neither number is anywhere close to the job creation figures needed to stabilize the economy. Congressman Kevin Brady, Chairman of the Joint Economic Committee, reports the economy must create 371,000 jobs each month just to be an average economic recovery.

Obama has never come close to that figure. Obama can set the Failometer to zero simply by having a better economy than Bush and fulfilling his 2008 and 2012 campaign promises to help blacks and Hispanics gain economically.

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.

Even worse, Obama has yet to generate a Failometer score that can be contained within the chart's range of zero to 1000.

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.

Here is how the Obama Failometer Score is calculated:

FACTORS MEASURED AGAINST BUSH

Monthly jobs created: The economy must create 371,000 jobs a month just to be an average economic recovery. That has never happened under Obama.

Obama promised not only to 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 371,000 jobs needed per month just to be an average recovery, and dividing by 1,000 to balance it against other factors.

The BLS reports the economy created only 142,000 jobs last month, 229,000 fewer than needed to restore the economy. This portion of the Obama Failometer Score is 229.

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 last month fell to 62.8 percent. Obama inherited a 65.7 percent rate. This ties the worst rate since August 1978 and 3.4 percent worse than Bush's average of 66.2 percent. This portion of the Obama Failometer Score is 340.

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 last month was 12.0 percent, while the national overall rate was 6.1 percent. That is a gap of 5.9 percent. This portion of the Obama Failometer Score is 590.

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. Black employment was comparatively better under Bush than Obama.

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 last month was 7.5 percent, while the national overall rate was 6.1 percent. That is a gap of 1.4 percent. This portion of the Obama Failometer Score is 140.

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.

229: Monthly jobs created
340: Civilian labor force participation rate
590: Black unemployment
140: Hispanic unemployment

THEREFORE, THIS MONTH'S OBAMA FAILOMETER SCORE IS 1,299.

Source