July 31, 2021

Obama’s Economy Fourth Worst In US History

Obama-1The GDP, or Gross Domestic Product, what the country produces as a whole, only grew at 0.5 percent during the first quarter of 2016. Wall Street Journal’s Jeffrey Sparshot pointed to the cause as a “sharp pullback in business investment and weak global demand dragged down an already-lackluster U.S. economy in the opening months of 2016.”

One source calls the GDP the “godfather” of all economic indicators because it, “represents the market value of all goods and services produced by the economy during the period measured, including personal consumption, government purchases, private inventories, paid-in construction costs and the foreign trade balance.”

While some economists such as Bob Deitrick, CEO of Polaris Financial Partners, like to compare Ronald Reagan’s unemployment numbers with President Obama’s as proof the American people are doing better under the Obama administration than the Reagan one, Reagan’s GDP numbers averaged 3.5 percent per year.

Furthermore, the Obama administration’s job creation statistics are not without controversy. Western Journalism reported in Nov. 2015, 95 million Americans were not in the workforce, or were leaving the workforce, a possible result of a large baby boomer population approaching or already into retirement age.

Under the Obama administration, the GDP has averaged just 1.32 percent over his 7.25 years in office, putting Reagan’s GDP rate at more than double that number.

While the president still has some 8 months longer in office, The Gateway Pundit reported, “Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth.” Citing Louis Woodhill, the Pundit continues, “If the economy continues to perform below 2.67% GDP growth rate this year, President Barack Obama will leave office with the fourth worst economic record in US history.”

Source: Western Journalism