We oft here these days how the re-election of Barack Obama as president is out of question because of the high level of unemployment.
We are told “No president has ever been re-elected with high unemployment.”
The current recession of four years duration bears more similarity to the Great Depression of the 1930s than any down turn experienced since then.
Franklin Delano Roosevelt was first elected in 1932 when Civil Unemployment is estimated to have been 23.6%.
He was re-elected in 1936 when civil unemployment was estimated to be 17% and again in 1940 with estimated civil unemployment at 14.6%.
When Obama became president in 2009, unemployment was at 9.3%. The current rate of unemployment is 6.8%.
