Thursday, September 6, 2012

Obama "inherited" the worst set of economic conditions since World War II

1) Obama "inherited" the worst set of economic conditions since World War II.

False. Based on unemployment, inflation and interest rates, the recession of 1981-82 was worse. Unemployment during the early '80s reached 10.8 percent, inflation 13.5 percent, and prime interest rates reached 21.5 percent.

During this so-called "Great Recession," the numbers peaked at 10.2 unemployment, 5.6 percent inflation and 7.25 percent for the prime interest rate.(For four more of "The Five 'Reasons' to Re-elect Obama" follow this link.)

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