Tuesday, March 01, 2011
(Pic credit JSOnline Mark Hoffman)
In the six quarters since the recession ended, the economy under Barack Obama has grown by about 4.4%, and by only 2.7% in the most recent four quarters. By comparison, in the six quarters after the early 1980s recession ended while Ronald Reagan presided, GDP increased by almost 10%, with 8.5 points of that growth taking place during quarters three through six.
The glaring shortfall in growth under Obama might not be so troubling but for the catastrophic results it has caused in the employment market. In mid-January, I noted, based on data available at the time, that Reagan’s first six post-recession quarters saw the creation of over 4 million jobs, while only 72,000 jobs were created during Obama’s comparable six quarters.
Incompetence, doctrinaire Socialism, direct sabotage of private-sector.
You expected better results?