3.2 GDP
- Thread starter Walter Brennaneer
- Start date
Economic growth (GDP)
One of the biggest criticisms of Obama's economy is that growth has been sluggish. Historically, the U.S. economy has expanded 3% or more a year, on average.
One of the biggest criticisms of Obama's economy is that growth has been sluggish. Historically, the U.S. economy has expanded 3% or more a year, on average.
Food stamps
One of the clearest signs of how much people were hurting during the recession is that nearly 50 million Americans -- roughly 15% of the population -- needed food stamps.
Food stamp use peaked in 2013 and has fallen slightly since, although it remains a elevated levels and far higher than when President Obama took office in 2009. It's another sign the recovery isn't reaching everybody yet.
One of the clearest signs of how much people were hurting during the recession is that nearly 50 million Americans -- roughly 15% of the population -- needed food stamps.
Food stamp use peaked in 2013 and has fallen slightly since, although it remains a elevated levels and far higher than when President Obama took office in 2009. It's another sign the recovery isn't reaching everybody yet.
Home prices
The financial crisis was caused in part by too many homes being sold to people who could not afford them. As a result, the housing sector was hit hard by the Great Recession and even people who could afford to buy a home struggled to get mortgages.
The financial crisis was caused in part by too many homes being sold to people who could not afford them. As a result, the housing sector was hit hard by the Great Recession and even people who could afford to buy a home struggled to get mortgages.
Gas prices
Gas prices are notorious for fluctuating wildly. During Obama's tenure, the national average for a gallon of regular gas has been as high as almost $4 in 2011 and as low as $1.85 a gallon the month he took office.
Gas prices are notorious for fluctuating wildly. During Obama's tenure, the national average for a gallon of regular gas has been as high as almost $4 in 2011 and as low as $1.85 a gallon the month he took office.
2008: GDP = -0.1%, Unemployment = 6%, Inflation = 0.1%
Jan 22 3.5%
Jan 30 3.0% Tax rebate.
Mar 18 2.25% Bear Stearns bailout.
Apr 30 2.0% Lehman fails. Bank bailout approved. AIG bailout.
Oct 8 1.5% ^
Oct 29 1.0% ^
Dec 16 0.25% Effectively zero. Lowest fed fund rates possible
Jan 22 3.5%
Jan 30 3.0% Tax rebate.
Mar 18 2.25% Bear Stearns bailout.
Apr 30 2.0% Lehman fails. Bank bailout approved. AIG bailout.
Oct 8 1.5% ^
Oct 29 1.0% ^
Dec 16 0.25% Effectively zero. Lowest fed fund rates possible
- The Fed kept the rate at zero between 2008 and 2015.
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but under Trump, the Fed cost him GDPs from 5% to 6%...
EIGHT INCREASES IN UNDER THREE YEARS...
2016: GDP = 1.6%, Unemployment = 4.6%, Inflation = 2.1%
Dec 15 0.75%
2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%
Mar 16 1.0% Fed was steady on its path of normalizing its benchmark rate
Jun 15 1.25% ^
Dec 14 1.5% ^
Fed Chair Jerome Powell (February 2018 - February 2022)
2018
Mar 22 1.75% Fed projects steady growth.
Jun 14 2.0% ^
Sep 27 2.25% ^
Dec 19 2.5% ^
EIGHT INCREASES IN UNDER THREE YEARS...
2016: GDP = 1.6%, Unemployment = 4.6%, Inflation = 2.1%
Dec 15 0.75%
2017: GDP = 2.2%, Unemployment = 4.1%, Inflation = 2.1%
Mar 16 1.0% Fed was steady on its path of normalizing its benchmark rate
Jun 15 1.25% ^
Dec 14 1.5% ^
Fed Chair Jerome Powell (February 2018 - February 2022)
2018
Mar 22 1.75% Fed projects steady growth.
Jun 14 2.0% ^
Sep 27 2.25% ^
Dec 19 2.5% ^
if that effin' clown Zero had 8 Fed increases in 3 years...
the economy would have died...
because he was trying to ruin this country...
the economy would have died...
because he was trying to ruin this country...
Hahahahaha while true, it’s pretty bad that in year 2 of his Presidency, Trump exceeded Obama’s best year, even with the banner quarters.
I think it is cute that the true believers still to this day think Obama measures up to Trump.
Obama had a 4.7 quarter in his first year after Bush devastated the economy. trump's best quarter so far, in over two years, after inheriting a decent economy from Obama, is 4.2.
- The Fed kept the rate at zero between 2008 and 2015.
Hey Keyser, do you suppose Trump's economic performance to date is due more to the fact that it's still Obama's economy or because Hillary won the popular vote and Trump gets the benefit of her being more popular?
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Yeah but YOU folks on the Left keep saying it's STILL Obama's economy! So how is it Trump gets any credit for any quarter so far if it's all still Obama's economy?
Obama has never done better in any year while in Office than any of his predecessors going all the way back to WWII! He's the absolute worst...dead last...in any given year...no one's ever finished as bad as he did while still in Office... Zero, was the worst.
But, Obama's doing great now according to the Left, since's he's left office. [eyeroll]
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You won't read this, but you should.
Here is the complete list of average annual real GDP growth by postwar president (in descending order):
Johnson (1964-68), 5.3%
Kennedy (1961-63), 4.3%
Clinton (1993-2000), 3.9%
Reagan (1981-88), 3.5%
Carter (1977-80), 3.3%
Eisenhower (1953-60), 3.0%
(Post-WWII average: 2.9%)
Nixon (1969-74), 2.8%
Ford (1975-76), 2.6%
G. H. W. Bush (1989-92), 2.3%
G. W. Bush (2001-08), 2.1%
Truman (1946-52), 1.7%
Obama (2009-15), 1.5%
https://www.hudson.org/research/12714-economic-growth-by-president
excerpt
(According to the BEA, real GDP growth in 2016 has been 0.8 percent in the first quarter and 1.2 percent in the second quarter. Those figures, being from an incomplete year, are not included in President Obama’s tally. If economic growth does not improve over the rest of 2016, however, his overall tally would drop slightly.)
(*note: it didn't improve...finished at 1.9%)
Obama's the ONLY U.S. President to NEVER finish above 3% GDP in any year while in Office. The only one! Pathetic.
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