Obama's failure - by the numbers

Jeffrey Anderson at IDB has an excellent piece breaking down President Obama's failures by the numbers. It has now been a little over two years - and eight full economic quarters - since the end of the recession Obama inherited. It's time to ask: How does his record of economic growth in the wake of a recession stack up against the records of other presidents? [...] According to the NBER, in the 60 years prior to Obama's tenure, we had 10 recessions. In the two years following those respective recessions, average real (inflation-adjusted) quarterly GDP growth was 5%, according to federal government figures. In the two years of Obama's "recovery," average real quarterly GDP growth has been just 2.4%, less than half of the historical norm coming out of a recession. What's the difference (in more practical terms) between 2.4% and 5% growth over two years? According to Obama's own budget, this year's GDP will be about $15 trillion. (It's running neck and neck with the national debt.) ...(Read Full Post)