All  content on this site is copyrighted and you cannot copy content of this page

The Economic Years Since World War II? 1

The U.S. economy has grown very slowly in the years since the Great Recession of 2008-09. After four years of slow growth, the latest data reveals that the U.S. economy shrank at a 2.9 percent annual rate during the first quarter of 2014.

That figure has been widely reported, but here are some figures that have not been reported, and they are quite eye-opening:

Over the first five years of Obama’s presidency, the U.S. economy grew more slowly than during any five-year period since just after the end of World War II, averaging less than 1.3 percent per year. If we leave out the sharp recession of 1945-46 following World War II, Obama looks even worse, ranking dead last among all presidents since 1932. No other president since the Great Depression has presided over such a steadily poor rate of economic growth during his first five years in office. This slow growth should not be a surprise in light of the policies this administration has pursued.

An economy usually grows rapidly in the years immediately following a recession. As Peter Ferrera points out in Forbes, the U.S. economy has not even reached its long run average rate of growth of 3.3 percent; the highest annual growth rate since Obama took office was 2.8 percent. Total growth in real GDP over the 19 quarters of economic recovery since the second quarter of 2009 has been 10.2 percent. Growth over the same length of time during previous post-World War II recoveries has ranged from 15.1 percent during George W. Bush’s presidency to 30 percent during the recovery that began when John F. Kennedy was elected.

Trickle Down Economics versus Trickle Down Socialism

Ronald Reagan’s economic plan saw GDP surge at a 3.5% clip – 4.9% after the recession. That’s a 32% bump.

During the Obama years, thanks to his big government policies, the US economy has stalled.  The GDP for the first quarter of 2015 braked more sharply than expected at only a .2% pace. The US economy has grown an anemic 9.6% during the Obama years (excluding the current dismal number).

Of course, Obama’s record on job growth is also much worse that President Reagan’s record.


The Economic Years Since World War II? 3

Net job growth has declined under Obama. By the end of the second year of their terms as president, economic growth under Reagan averaged 7.1% , under Obama an anemic 2.8%. (IJ Review)

And today, more than five years into the tepid recovery, labor-force participation remains at its lowest level since 1978 during the Carter years.

Ouch!

Link

The Economic Years Since World War II?