When Obama brags about his economic record, you have to wonder who he thinks he’s fooling.In July of last year, he told Jon Stewart that “The economy, by every metric, is better than when I came into office,” a claim which the center-left Politifact quickly rated as “mostly-false.”
There were quite a number of metrics where we are much worse off under Obama. Among them are median incomes, median wages, the duration of unemployment, percentage living in poverty, labor force participation rate, and number of people on food stamps… just to name a few!
The Obama economy is breaking new records, just not the kind we want to be breaking. As the Gateway Pundit reports, when it comes to economic growth, Obama is “simply the worst.”
The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people.On Thursday the Commerce Department announced that the US economy expanded at the slowest pace in two years. GDP growth rose at an anemic 0.5% rate after a paltry 1.4% fourth quarter advance.
To give some context, while Obama will be likely to average 1.55% GDP growth, Reagan averaged real GDP growth of 3.5%.
This ranks Obama as the fourth worst presidency on record. Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth.The other three presidents Obama outperforms in terms of GDP growth are Andrew Johnson, Herbert Hoover (who presided over the beginning of the Great Depression), and FDR.
Astonishingly, Obama says he’s “frustrated” by the lack of credit he’s receiving for “saving the economy.” What he doesn’t seem to realize is that if it wasn’t for the Great Depression, Obama may have been the second worst presidency on record![Note: This post was authored by Matt Palumbo. Follow him on Twitter @MattPalumbo12]