Obama Policies Continue Drag on Economy
The economy grew at an inflation-adjusted rate of just 0.7 percent in the fourth quarter of last year, and a total of 2.4 percent in 2015.
Ranking all 66 years since 1950 in terms of economic growth, the Obama years rank 45th, 46th, 47th, 48th, 54th, 55th, and 66th.
Today the Bureau of Economic Analysis released the first estimate of GDP growth for calendar year 2015. Adjusted for inflation, the economy expanded at a tepid 2.4 percent rate in 2015. This includes the fourth quarter of 2015 which grew at 0.7 percent compared to the third quarter.
Obama years are among lowest in growth
No president can control the economy. But the president should at least refrain from overloading the economy with too many mandates, regulations, and taxes. President Obama has not been so modest. Consequently, the economy has struggled to regain its footing after the recession ended six and a half years ago. The contraction was so large, that it should have led to much higher growth afterward. Instead, the years under President Obama have been some of the worst in the modern economy. Ranking the 66 years since 1950 in terms of economic growth, the Obama years rank 45th, 46th, 47th, 48th, 54th, 55th, and 66th.
Reagan and 1990s growth overshadow Obama years
Economic growth following recessions is typically stronger than economic growth at other times. To see how poorly the Obama economy is faring, compare Obama’s economic growth to that seen under President Reagan following the early 1980s recession, and the growth seen under Bush and Clinton following the 1991 recession.
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