President Obama dragged his party far away from the campaign rhetoric of Bill Clinton in 1992 – ‘It’s the economy, stupid.’
For all the hysterics from the liberal media about Obama saving America from the Great Recession, the numbers say otherwise.
New reports show that Obama completely neglected economic growth during his two terms in office, becoming the worst president in over 70 years in that category.
An average growth rate during his eight years of 1.6% lands him at the bottom of a list of 13 post-World War II presidents, even being bested by Harry Truman, who had to guide the nation out of war.
Ouch!
Via the New York Post:
On Thursday we closed the book on the Obama economic “miracle” — and it’s a miracle we are not in a recession.
Last week the Commerce Department released its third revision for fourth-quarter 2016 gross domestic product. The number came in at a paltry 2.1 percent, meaning that growth during President Obama’s final year in office — the end of an “Error of Hope” — landed with a big thud at just 1.6 percent.
That low-water mark puts the Obama presidency in last place among all the post-World War II presidents when it comes to economic growth.
After a final revision of fourth-quarter GDP growth was released, Obama officially became the only president since Herbert Hoover to have not generated 3 percent economic growth in any year he was in office.
President Trump often cited this fact on the campaign trail, saying “Obama is the first president in modern history not to have a single year of 3 percent growth.”
The highest average growth in any calendar year under Obama was 2.6 percent in 2015.
Trump rode a wave of anxiety caused by the Obama economy to victory in this past November’s election.
Five Thirty Eight reported after the election that Trump “won most counties — and improved on Romney’s performance — where a large share of jobs are vulnerable to outsourcing or automation.”
The President will have a daunting task of fixing a stagnant economy over his first term, and relieving some of that anxiety.
Can President Trump turn the Obama economy around? Tell us if you think he will below.
