Lesson for Obama: History Not Kind to Presidents with High Unemployment Rates

President Obama may have gotten some bad news last week about his re-election prospects when the Congressional Budget Office predicted that the nation's unemployment rate will be 8.2 percent come Election Day 2012. The only president ever to win re-election with a jobless rate that high was FDR during the Great Depression. In 1932 the jobless rate was 23.6 percent, in 1936 it was 16.9 percent, and in 1940 14.6 percent. In fact, those years are the only ones in history when the nation's...Full Story
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