In February 2011 (Fake News) Time Magazine Implied that Obama was like Reagan. This couldn’t have been further from the truth, especially when considering economic growth. Ronald Reagan brought forth an annual real GDP growth of 3.5% . Barack Obama will be lucky to average an annual 1.50% GDP growth rate during his two terms in office.
The rate of real economic growth is the single greatest determinant of both America’s strength as a nation and the well-being of the American people.
From 1790 to 2000, U.S. RGDP growth averaged 3.79% . America needs at least 3.0% economic growth-the nation cannot defend itself and pay its bills without it. However, America’s elites have largely given up on growth, and are now distracting themselves with academic musings about “secular stagnation.”
By February of 2016 it was clear that Obama had given up on economic growth. Obama’s Congressional Budget Office (CBO) forecasted in early 2016 that America will never see 3.0% economic growth again.
As a result of his failed economic policies, Obama currently ranks as the fourth worst presidency on record in GDP growth at 1.457% . Only Herbert Hoover (-5.65% ), Andrew Johnson (-0.70% ) and Theodore Roosevelt (1.41% ) currently have lower average annual GDP growth than Barack Obama. In addition, Obama has the lowest annual GDP growth rate of any President since World War II.
Barack Obama will be the only U.S. president in history who did not deliver a single year of 3.0% + economic growth.
Obama’s economic policies failed America and resulted in 95 million without work, the debt at an astronomical $20 Trillion and more Americans on Food Stamps than ever before.
During his campaign, President Elect Donald Trump stated that he wanted to move GDP growth above 3.5% to 4% .
On Tuesday Donald Trump Commerce Secretary Wilbur Ross spoke with White House press room reporters.
During the question and answer period Secretary Ross told the reporters the Trump administration expects greater than 3% growth this year
Secretary Ross: President Obama is the only president in many, many, many that didn’t have at least one year of 3% growth. And with all the initiatives that we are doing: the regulatory reform, the trade reform, the tax reform, hopefully and unleashing energy there’s no reason we shouldn’t be able to at least hit that if not beat it.
