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Obama is First President Ever to Not See Single Year of 3% GDP Growth

apdst

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Good job! Thank you, Mr. President! Fourth worst GDP. Carter had a better GDP. How embarrassing is that?

On Thursday the Commerce Department announced that the US economy expanded at the slowest pace in two years. GDP growth rose at an anemic 0.5% rate after a paltry 1.4% fourth quarter advance.

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.

SIMPLY THE WORST=> Obama is First President Ever to Not See Single Year of 3% GDP Growth
 

iguanaman

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Good job! Thank you, Mr. President! Fourth worst GDP. Carter had a better GDP. How embarrassing is that?

The growth rates of developed nations has been dropping for 20 years. Our GDP growth currently is better than any of the others. Obama has nothing to be ashamed of.

The United States is the world’s largest economy. Yet, in the last two decades, like in the case of many other developed nations, its growth rates have been decreasing. If in the 50’s and 60’s the average growth rate was above 4 percent, in the 70’s and 80’s dropped to around 3 percent. In the last ten years, the average rate has been below 2 percent and since the second quarter of 2000 has never reached the 5 percent level.
United States GDP Annual Growth Rate | 1948-2016 | Data | Chart | Calendar
 

OrphanSlug

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We have not talked about this yet... :roll:
 

joG

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Good job! Thank you, Mr. President! Fourth worst GDP. Carter had a better GDP. How embarrassing is that?

Though, I am no friend of Obama and think that his economic policies including aca as he did it were not good at all, it would be wrong to attribute the whole blame to his doing. It started with Clinton's bubble and the fact that Bush over spent on Iraq didn't smooth the waves.
 

apdst

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Though, I am no friend of Obama and think that his economic policies including aca as he did it were not good at all, it would be wrong to attribute the whole blame to his doing. It started with Clinton's bubble and the fact that Bush over spent on Iraq didn't smooth the waves.

Obama spent more money than Bush.
 

DA60

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It's not Obama's fault per se...it's the central banks fault.

Or rather, since 2007, the leading world governments have gotten into the horrible habit of passing the buck of their economies to their central banks to fix.

And most central bankers are just that...bankers. And any one who actually knows bankers knows that most of them are great bean counters but are (usually) utterly clueless about how real world macroeconomics actually works.

Yes, Obama has to accept his share of the blame (he recommended every Fed board member, I believe)...but other major countries have done the exact same thing.
Plus, GW Bush went happily along with Bernanke taking over things when he was Prez (plus, he appointed the guy in the first place).

This will all end in tears.
 
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