But Obama being Obama and not having an army of gullible rubes didn't advertise it enough so we have resident ET morons saying things like There were 15 quarters during Obama's administration when GDP growth surpassed 2 percent, The Week noted on Friday. There were eight quarters of growth of at least 3 percent, including three of 4 percent or better. The highest GDP growth of Obama's presidency was during the third quarter of 2014, when it hit 5.2 percent. https://thehill.com/homenews/admini...-that-gdp-growth-never-passed-2-percent-under As for unemployment, this is a nice chart But under Obama these numbers were fake because he is a 'community organizer' Sep. 7, 2012 “Unemployment rate only dropped because more people are out of labor force & have stopped looking for work. Not a real recovery, phony numbers” Oct. 19, 2012 "7.8% unemployment number is a complete fraud as evidenced by the jobless claims number released yesterday. Real unemployment is at least 15%” Aug. 11, 2013 “We can rev up this economy like it should be, not with false numbers like 7.4 percent unemployment. But with real numbers.” May 31, 2014 “Unemployment is a totally phony number.” June 16, 2015 “Our real unemployment is anywhere from 18 to 20 percent. Don't believe the 5.6. Don't believe it.” Aug. 11, 2015 “Then you hear there's a 5.4 percent unemployment. It's really — if you add it up, it's probably 40 percent if you think about it.” Aug. 30, 2015 “They show those phony statistics where we are 5.4 percent unemployment. The real number, I saw a number that could be 42 percent, believe it or not.” Sept. 28, 2015 “I hear 5.3 percent unemployment, that is the biggest joke there is in this country. That number is so false.” Sept. 29, 2015 “The number is not reflective. I have seen numbers of 24 percent. I saw a number of 42 percent unemployment. … That number is so false.” Oct. 9, 2015 “They say 5.3 percent employment. The number is probably 32 percent.” Oct. 11, 2015 “Nobody has jobs. … It is not a real economy. It is a phony set of numbers. They cooked the books.” Jan. 17, 2016 “Look again, you hear these phony jobs numbers? People that gave up looking for jobs? They are considered employed.” Feb. 9, 2016 “Don't believe those phony numbers when you hear 4.9 and 5 percent unemployment. As high as 35 — as in fact, I heard recently, 42 percent.” March 12, 2016 “The numbers are phony. These are all phony numbers. Numbers given to politicians to look good. These are phony numbers.” May 24, 2016 “You hear a 5 percent unemployment rate. It's such a phony number. That number was put in for presidents and for politicians so that they look good to the people.” July 7, 2016 “The phony 5 percent numbers that we hear about with the unemployment.” Aug. 8, 2016 “The 5 percent figure is one of the biggest hoaxes in modern politics.” Nov. 4, 2016 “The terrible jobs report that just came out … you can see phony numbers, 5 percent.” Dec. 8, 2016 “The unemployment number, as you know, is totally fiction.” https://www.elitetrader.com/et/thre...onomy-after-calling-it-fake-for-years.314738/
Ya, why didn't Obama nearly double the deficit for 0.05% increase in the GDP made up of 0.5% of government spending. This is the kind of economics that got Kansas into trouble but now its time to go national with the failure.
I always worry about the deficit and the national debt regardless of who's in the oval office, but I'm excited about the fact that we're about to hit 3% GDP growth on the year for the first time in over a decade. I'm glad that 2% GDP isn't the new norm. Obama was the only president in the history of the country to never average 3% GDP on the year, despite the fact he was in office for 8 years. His average annual GDP was a little over 1.5%. The reason no one brags about Obama's GDP growth is because it's the worst growth of any president we've had in the post-war era.
You are excited about the fact that the deficit has increased by 400 billion dollars for a lousy 0.5% extra growth supplemented by huge government spending? Obama inherited a GDP that was contracting at -8% and was never allowed to spend his way out of the recession, a paltry 500 billion was allowed as stimulus (rest being tax cuts) but you are keen on blaming him for not posting some meaningless number? Trump isn't doing anything special, increasing government spending and cutting taxes are great short term measures, just wait till the recession hits and it will be just as bad as Dubya's times. And that's not something Republicans don't understand, they don't mind the recession because that then gives them an excuse to cut spending they really hate - spending on poor people.
Obama's first budget resulted in a $1.547 trillion deficit. His second budget resulted in a $1.3 trillion deficit. His third budget resulted in a $1.087 trillion deficit. His fourth budget resulted in a $679 billion deficit. The average budget deficit under Obama during his first term: $1.15 trillion per year. Trump's first budget looks like it is going to result in a $900 million deficit. The 2019 budget deficit is projected to be about $1 trillion. Both are up from the end of the Obama era, but they're also significantly less than the beginning of the Obama era. The sad truth is we're royally screwed unless we change something drastically. What we're doing now is obviously unsustainable.
This is really dishonest, why don't you state the deficits and the economy they inherited before peddling such a dishonest picture? What was the state of the economy and the deficit Dubya handed Obama? And then do the same for Trump. This is the kind of weak bothsideism that has resulted in the mess, if Republicans continued Clinton's policies of not spending generously on the military, maintaining tax revenues, the debt would have been almost paid off.