Obama is the worst President in modern times when it comes to the economy, and the numbers prove it.
From 1950-2008, the economy has grown, on average, 3.5% per year. Under Obama, that’s a dismal 1.4%. Even if we remove the recession year of 2009, growth was a meager 2.1%.
With figures like that, it’s no surprise food stamp usage has soared under his Presidency, even as he claims that the economy has been improving. One of the reasons that unemployment has dropped has been because people have simply given up on looking for work, and left the labor force. If we look at the U-6 unemployment rate, which includes workers who’ve left the labor force, we found the true unemployment rate closer to 10%.
Ronald Reagan brought forth an annual real GDP growth of 3.5%.
Barack Obama will be lucky to average a 1.55% GDP growth rate.
This ranks Obama as the fourth worst presidency on record.
Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth.
Obama will be lucky to average 2% growth in his final year in office.
According to Louis Woodhill, if the economy continues to perform below 2.67% GDP growth rate this year, President Barack Obama will leave office with the fourth worst economic record in US history.
Assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list of 39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%)
Well done, Barack.
We’ve had an experiment in liberal economics: higher taxes, more government spending, more government regulation, fiscal stimulus, easy money, and look where it’s gotten us. The experiment goes to prove one thing: it doesn’t work.
Liberals don’t support those kinds of policies because they’re good for the economy, but because wealth redistribution and government spending allows them to buy votes from the poor at the expense of the rich.