WASHINGTON — Officials with U.S. House operations offices ordered Tuesday the removal of Congressman Steve Stockman’s “Obama Failometer” after it had been erected in the corridor of Cannon House Office Building.
The Obama Failometer is a ten-foot-long billboard that uses a fixed mathematical score to calculate four economic indicators from the Bureau of Labor Statistics. The figures from the monthly reports are weighted to provide a balanced total score, which ranges from zero to 1,000. The Obama Failometer is now stored in Stockman’s office.
“Washington needs more free speech,” said Stockman. “Millions of Americans are waiting for Obama to reverse his course and create jobs. The Obama Failometer is an objective, mathematical measure of Obama’s failure to create jobs. It is an important tool to focus attention on black and Hispanic unemployment and spur discourse on actions that create jobs for everyone.”
“The Obama Failometer may not be allowed in Congress but it will be back somewhere, and bigger,” said Stockman. “Tearing it down created more labor than Obama has.”
“I am disappointed House officials ordered it torn down. No one should be offended by frank, objective economic statistics,” said Stockman. The gap between black unemployment and overall unemployment is higher under Obama than under Bush. Under Obama we are only creating half of the 321,000 jobs a month needed to restore the economy. Under Obama the percentage of Americans in the civilian labor force is at an all-time low.”
The Monthly Obama Failometer Score is calculated using four factors, monthly jobs created, the monthly civilian labor force participation rate and the gap between black and Hispanic monthly unemployment against the monthly rate for all Americans combined. They are weighted so a sharp increase or decrease in one factor won’t distort the overall Obama Failometer Score.
The Obama Failometer is constructed of paper and foam board and affixed to the wall with temporary adhesive tape. It weighs just a few pounds and does not leave holes or mar paint.
More information on the Monthly Obama Failometer Score and how it is calculated:
FACTORS MEASURED AGAINST GEORGE W. BUSH
Monthly jobs created: The Hamilton Project, a liberal economic policy group, states the economy must create 321,000 jobs a month in order to return the economy to pre-recession employment levels by December 2016, the end of Obama’s term.
Obama promised to not only restore the economy to where it was under Bush, but grow it. So far Obama has failed to even perform as well as Bush.
This Obama Failometer score portion is calculated by subtracting the number of jobs created in the previous month from the 321,000 jobs claimed necessary by the liberal Hamilton Project and dividing by 1,000 to balance it against other factors.
The BLS reports the economy created 157,000 jobs in January, 164,000 fewer than needed to restore the economy. This portion of the February Obama Failometer Score is 164.
Civilian labor force participation rate: The civilian labor force participation rate, the ratio between those 16 and over in the labor force against the national population of those 16 and over, is an important measure of economic health. After puttering along during the Bush administration, including through the “Bush years” of the recession, under Obama it has plunged sharply.
This Obama Failometer score portion is calculated by subtracting the monthly civilian labor force participation rate from the average Bush administration rate and multiplying by 100 to balance it against other ractors. According to data from the BLS, under Bush the average monthly civilian labor force participation rate was around 66.2 percent.
The Bureau of Labor Statistics reports the monthly civilian labor force participation rate for January was a paltry 63.6 percent, close to the record low and a gap against Bush of 2.6 percent. This portion of the February Obama Failometer Score is 260.
FACTORS MEASURED AGAINST OBAMA’S OWN RHETORIC
Black unemployment: No one has suffered more economically under Obama than black Americans. Obama’s election and re-election has meant crippling poverty for the black community.
This Obama Failometer score portion is calculated by taking the monthly unemployment rate for blacks and subtracting the monthly unemployment rate for all Americans, and multiplying it by 100 to balance it against other factors.
The Bureau of Labor Statistics reports the black unemployment rate for January was a depressing 13.8 percent, while the national overall rate was 7.9 percent. That is a gap of 5.9 percent. This portion of the February Obama Failometer Score is 590.
Compare Obama’s performance to Bush’s. The highest monthly unemployment rate ever for blacks under Bush was 12.1 percent. Obama’s lowest rate was 12.7 percent in January, a figure he largely inherited. His next lowest was 13.5 percent in March 2009. He has never performed as well as Bush’s worst black unemployment rate.
Bush’s average black unemployment rate was 9.7 percent and an overall national average of 5.2 percent, a 4.5 percent gap that gives Bush a score of 450.
Hispanic unemployment: Despite winning the Hispanic vote, Obama’s liberal policies have caused widespread damage to the Hispanic community. Thanks to Obama, they continue to lag behind the national average in many economic factors.
This Obama Failometer score portion is calculated by taking the monthly unemployment rate for Hispanics and subtracting the monthly unemployment rate for all Americans, and multiplying it by 100 to balance it against other factors.
The Bureau of Labor Statistics reports the Hispanic unemployment rate for January was a stunning 9.7 percent, while the national overall rate was 7.9 percent. That is a gap of 1.8 percent. This portion of the February Obama Failometer Score is 180.
The Hispanic unemployment rate hit its all-time historic low of 4.7 percent during Bush’s last term. It is almost twice that rate under Obama.
THEREFORE, FEBRUARY’S OBAMA FAILOMETER SCORE IS 1194.
This report was released by the office of Rep. Steve Stockman of Texas.