Following today’s extremely disappointing US GDP growth data, we have the final nail in the coffin of President Obama’s economic reign. Not only is the average annual growth rate of just 1.48% during Obama’s business cycle the weakest of any expansion since at least 1949, he has just become the only President to have not had even one year of 3% GDP growth.
An average annual GDP growth of 1.48% during Obama’s two terms…
As a reminder to a few blinkered media types, this means President Obama’s “recovery” has officially been the worst recovery in US history (despite adding almost $10 trillion to the national debt)…
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And worse still, Barack Obama is the only president in US history to never have a year of economic growth over 3.0%…
As we noted previously, every other president in American history, even the really bad ones, had at least one year when U.S. GDP grew by at least 3 percent. But this has not happened under Obama even though he has had two terms in the White House.
As a reminder, this dismal economic track record came at the same as President Obama almost doubled the National Debt…
When ‘fake news’ and ‘peddling fiction’ meet ‘alternative facts’.
How can that be, with the unemployment rate below 5%. Is there a chance that the gov’t numbers are just plain BS.
Yup. And he’s the only president who was at war for every day of his entire term. A warmongering failure. But a true bullshit artist-and I do mean artist.
The leftists will tell you that it is because of the mess Bush left us in, that it was a near miracle he was able to overcome it to do as well as he did.
Of course, they will also tell you it is all Trump’s own fault and Obama had nothing to do with it if things don’t go well under his administration, or that it was because of the greatly improved economic conditions Obama left him if they do.
It’s not that hard to understand the leftist mind, it’s all right out there in the open for everyone to see.
The truth is the leftest mind wishes they had a Trump. Workers issues and all.
Instead they are left with vacuous issues of identity politics. No way to explain how you are going to materially benefit working people.
Obama, what a loser. So sad.
But, I’ll tell you, with me, the American people are going to win. Bigley. Believe me. We’re going to win so much you going to say…Trump, why do we have to win all the time? It’s unfair all this winning.
Obama- very overrated. Sad.
They’re going to wrote songs about Trump some day.
Book it Dano.
Barack Obama Is Now The Only President In History To Never Have A Dick Longer Than 3″
With statements like “I will tax coal out of existence” it would be hard to believe it was not by design. I’m pretty sure he accomplished almost everything he intended to do. The only thing he didn’t get to is the “flag of islam flying from the White House”.
Blessings:-}
Not that I am Obama fane, but the economy is very complicated. There is a lot more to it than just who is the president. Maybe growth is so low because the US debt to GDP is so high or maybe because the demographics won’t support a high growth rate. If consumers are paying off debt then the money does not go towards new economic activity. That is the disadvantage of buying consumables on credit. It adds to GDP the first year, but only leaves non-sustainable economic activity for the future. Debt has to be retired tired and it is worse to a zero sum game since usually paying off the debt comes with interest too. Anybody paying off debt is not contributing to GDP!
An economy only grows two ways. Population growth and productivity growth. People also have a lifetime spending cycle. Demographically spending peaks around 47-49 years and then declines. The third wave of the baby peaked in 2007-2009. The economy is fighting poor demographics as compared to the Reagan era just as the baby boomers were entering their peak spending years and the US had a much cleaner balance sheet then too.
The US’s money system also takes away from growth. Take “free trade” for example…… Don’t get me wrong….”Free trade” in the US sense means the.. trade is free…it costs nothing. The US does not have to give up anything of intrinsic value to get goods from around the world. The US only has to keep working on its chief export..ie US dollars and it can have anything it wants. No wonder GDP growth is low…..printing money doesn’t count in GDP.
If one has an unlimited credit card they never have to pay off, they will not have to go to work and earn money. That is the US.
I took a tour once at the Bureau of Printing and Engraving in Washington once. They had a sign above the printing presses. “We make money the old fashioned way….we print it”.
The US’s role in the world is to be the World’s Consumer, the World’s Policeman, and supplier of the World’s Money. The US has to sacrifice the jobs of its citizens so it can fulfill the role of the supplier of the World’s money.
The Americans should relish their special role and the life of leisure the dollar provides.
Flying, I would agree with you IF he came in and actually tried to fix the problems EVERYONE who was not a paid shill, or Wall Street / Government drone knew were the problems after his inauguration, and failed. However, instead he chose to double down on stupid, line the pockets of his, and the democraps donors, think Cash for Clunkers, Bankster Bailout (remember, the FED is a creature of CONGRESS), GM “bailout” by screwing the bondholders (screwing pensioners who OWNED GM bonds), Fannie Freddie bailout so the banksters had NO incentive to work with homeowners, but rather to push them out, push through that disaster Obamacare (another giveaway to the donor class) and basically F%^& the working man in every way. Meanwhile, conning the rubes in to thinking that bigger Government was going to help them. Ask anyone that attempted any of the mortgage programs to save their homes, or wanted to buy a good USED car. How did that work out?
Him, and his sorry ass gang of apparatchiks, were nothing but carnival barkers leading sheeple to their ultimate demise. No excuse. His “leadership” for the last 8 years has been nothing but a con-job.
Bush was no better by the way. He was just the other side of the same corrupt coin. Remember his speech when the markets were tanking, telling all of us it was in our own best interest to give Paulson anything he needed. Yea. Just think of how our economy would be booming now if we would have just let real capitalism, and the bankruptcy law sort things out, and Wells, Chase, Goldman, Deutsche, Citi and the rest of the TBTF were now a relic, and small, responsible local banks owned the discounted mortgages and actually had real incentive to work with homeowners. Hmm, guess we won’t know because Obama just continued the same thing, with more division and more BS.
On a related note, Barack the bonehead Bantu left all of us bitter clingers with a little parting gift just 12 hours before leaving office.
http://www.zerohedge.com/news/2017-01-27/obama-issued-massive-ammunition-ban-just-one-day-he-left-office
Like I stated in another article a few weeks ago; Barack Obama is the worst President in my lifetime. He was in over his head. He surrounded himself with boobs and unqualified affirmative action misfits. And he led from behind. Way behind!
The saddest part about his disastrous presidency was the absence of any honest and unbiased reporting. Both in print and on T.V. They sat on their hands, refused to ask any honest questions and in fact, did all they could to suppress any negativity about him and his administration. Their intentional inaction and dishonest reporting of the facts are evident with the “legacy” Barack Obama is leaving behind: The first president to wage war every day of his presidency (2 terms, to boot!). The first President in history not to have a year (out of an 8 year term) of 3% GDP growth. The longest and weakest recovery of any administration after a recession. More debt than every president before him. Combined!! The most divisive president since Lincoln. A signature piece of legislation that will forever have the stigma of his name attached to it; Obamacare.
As his “legacy” plays out and his disastrous administration becomes better known (not from the media shills and hacks, but from historians), one thing will become certain; Barack Hussein Obama will go down as one of the very worst presidents in U.S history. Not just in one’s lifetime. Yes indeed. His “legacy” will be secure.
Let me just correct one thing Rojam – “He was in over his head. He surrounded himself with boobs and unqualified affirmative action misfits. And he led from behind. Way behind!”.
Should be: He was in over his head. He surrounded himself with opportunists that saw a way to get their agenda through since he did not know anything. And he screwed us all from behind. Way behind!
There, fixed it for ya 🙂