I know many of you think that Obama is the best president the US has ever had, but the numbers don’t lie and this may shock you. Apparently Obama’s economic policies are pushing the proverbial car out of the ditch slower than any other multi-year economic recovery since WWII. I know it’s really hard to believe, but try and be objective and see for yourself:
CNS NEWS – President Barack Obama has presided over the worst multi-year recovery in American history since the end of World War II, according to data from the Bureau of Economic Analysis (BEA).
During his tenure, the economy has grown only 7.5 percent, compared with double-digit growth in other post-recession periods.
Using inflation-adjusted GDP figures from BEA and business cycle dates from the National Bureau of Economic Research (the organization used by the government to date when recessions and recoveries begin and end), CNSNews.com calculated how much the economy grew for each post-recession period since 1949, the earliest full recovery period for which BEA data is available.
From the end of the last recession in June 2009 until the fourth quarter of 2012, the economy grew only 7.5 percent, increasing from $12.7 trillion to $13.6 trillion.
The absolute worst post-war recovery lasted just 12 months, from July 1980 to July 1981 when the economy grew just 4.4 percent before falling into recession again until November of 1982.
Obama’s is by far the worst multi-year recovery in history, including recoveries of similar periods of time that occurred in the 1950’s and 1970’s.