Investors Business Daily
Economy: As if the picture weren’t bleak enough, here’s one more data point to worry about — the Misery Index is on the rise.
Conceived by economist Arthur Okun in the early 1970s, the Misery
Index simply adds together the inflation and unemployment rates to
create an effective indicator of real-world suffering.
It gained notoriety under President Carter, whose growth-choking,
easy-money policies pushed the index to its post-World War II high. Now,
under President Obama’s equally disastrous economic policies, the
Misery Index is making its return.
The annual inflation rate for May climbed to 3.6% as price spikes
spread beyond oil and food. At the same time, May’s unemployment rate
edged up to 9.1%, yielding a Misery Index of 12.7.
That marks the fourth straight monthly increase in the index, which
is now 62% higher than it was when Obama took office, and 57% higher
than it was when the recession officially ended.
By Kevin Bogardus The Hill
House Minority Leader Nancy Pelosi (D-Calif.) saw her net worth rise
62 percent last year, cementing her status as one of the wealthiest
members of Congress.
Pelosi was worth at least $35.2 million in
the 2010 calendar year, according to a financial disclosure report
released Wednesday. She reported a minimum of $43.4 million in assets
and about $8.2 milion in liabilities.
For 2009, Pelosi reported a minimum net worth of $21.7 million.
Anyone care to claim that Nancy et al “…feel our pain…”?