Obama Campaign Forecasts 8.2% Unemployment By Election Day, Hooray
The Obama Administration plans to win a second term with 8.2% official unemployment, according to the White House. This is how bad the Republican candidates are: No president has won re-election with this kind of joblessness and misery since FDR, who actually seemed to be doing something about the economy.
President Barack Obama will attempt re-election with an unemployment rate of 8.2%, the White House estimated Thursday as it laid out its economic forecasts.
The unemployment rate the White House predicts for the fourth quarter of 2012 would be the highest for an incumbent since Franklin Delano Roosevelt successfully was re-elected in 1936 with a 16.6% unemployment rate. Jimmy Carter lost when he attempted re-election with a 7.5% unemployment rate. The U.S. unemployment rate will average 8.8% this year, falling from a previously estimated 9.3% as the economy grows at a moderate pace, the White House added.
Good luck with that, Barry. Or, we should say, GOD HELP US ALL. [Marketwatch]