Going Home to the Reagan Years

As the New Republic hypothesizes that Obama is the left's Reagan (h/t NewsBusters), economic reality and those pesky things called facts continue to weigh on these dreams: The economy's rapid growth in recent quarters has scrambled these assumptions, and now the White House is pitching the Reagan comparison to political reporters in Washington. Unfortunately for this narrative, the Q4 data for 2014 is now in, and real economic growth was just 2.2 percent. This means that the annual series for 2014 is complete, and the real growth rate for the year was 2.4 percent -- effectively equivalent to 2010 (2.5 percent), 2012 (2.3 percent), and 2013 (2.2 percent). Odd, this doesn't seem like "rapid growth," especially when compared to Reagan. During Reagan's first year in office, when the economy was in a tailspin after the Carter disaster, real GDP growth was only 2.6 percent -- and yet this growth rate is higher than any of Obama's six years in...(Read Full Article)