Urbin Report

Sunday, January 25, 2009

An accurate review of history

John Stossel provides actual accurate historical facts. This sets him apart from many members of congress and the press.

...in the recession of '82, it reached 10.8 percent. Yet no one even remembers the "crisis" of '82. Today's 7.2 percent unemployment rate is higher than we've grown used to, but we've experienced that rate 16 times over the past 35 years...

That would be the Carter years, when the unemployment rate was in double digits, as was the inflation rate. Mortgage rates were over 20% as well. The worst economy since the FDR era was during the democrat administration of Jimmy Carter.