Barack Obama decided to use Presidents’ Day to get in an argument with another president. Well, okay, but the average GDP growth rate under Obama averaged around 2 percent, among the lowest of any modern president. Meantime, wages stagnated and the worker non-participation rate in the economy was at levels not seen since the 1970s. The economy grew just 1.6 percent in Obama’s final year.
Well, it’s not great, but it’s not a disaster. But I will say, it seems hard to me to run the economy at much less than 3 percent with low interest rates and annual deficits in the hundreds of billions – or even a trillion – dollars. That’s what one calls, a lot of stimulus. Nevertheless, Barack Obama managed to do it. So far Trump’s
Well the, Obama people must be disappointed. They had predicted that a permanent era of slow growth was at hand. But alas, the fault of the meager growth of the Obama years wasn’t America’s. It was OBAMA’S. Trump is closing in on two years into his presidency. Obama can’t even possibly claim at this point that he deserves the credit. In fact, the economy began
Trump effect? Yeah, I think so. One of the most significant parts of this is that corporate investment is growing strongly. Business leaders get that the era of over-regulation is over and their taxes might be going down. The second quarter is the first one that is more a Trump quarter than an Obama quarter, though of course we’ll be saddled with Obama’s lousy economic
The first quarter 2017 GDP numbers are out this morning, and they are typically lousy for the president — the previous one, Barack Obama, that is — who has had the worst record of economic growth of any since Herbert Hoover. Yes, Herbert Hoover. With an average growth rate of around 1.5 percent, Obama stands proudly next to the last president whose term witnessed an