This news is more than depressing. It is downright excruciating to sit back and read that the powers to be in Washington, D.C. do nothing, but spend wasteful taxpayer dollars that haven’t affect the unemployment rate a bit.

Last month’s rating of 12.7% was the highest since 1983 when the index hit 14.1%.

CNN Money ^[1] did a good comparison between 1983 and today.

“This is worth bearing in mind for those who drone on endlessly about “jobless stagflation.” Yes, 9.1% joblessness and 3.6% inflation are both bad news. But hey, when Reagan beat Jimmy Carter in the November 1980 election, unemployment was 7.5% and inflation was, um, 12.7%, for a nifty misery score above 20.”

Quote Via: CNN Money ^[1].