A typical republican talking point is that the economy is bad because of Mr. Obama’s failed policies. The above graph shows exactly the opposite – the policies put into place in January 2009 reversed the strong negative unemployment numbers.
The counter is the UE3 number remains above 8%. This misses the point, though, that the economy was in a free fall. Yes, the UE is above 8% because the public sector has taken a beating. Austerity measures in the public sector keeps the UE numbers high.
Regardless, the graph shows the turnaround. Now, give Mr. Obama and his administration credit.