Re: W vs Obama - who has the better President?
posted at 6/16/2014 9:45 PM EDT
"obama - big increase in jobs"
You must be kidding! Worst recovery from a recession since WW2.
Don’t look now, but President Obama’s economic legacy may already have been written. Now in its sixth year, his administration continues to wait in vain for a recovery. Even if the recovery arrives, it may be too late for it to matter.
Mr. Obama’s economy has performed worse than any president’s since Franklin D. Roosevelt. Simply averaging real gross domestic product (GDP) growth over a president’s tenure, Mr. Obama’s is the lowest by almost a full percentage point.
FDR’s (from 1933-40, excluding the war years) averaged 6.2 percent; Harry Truman (1947-52) averaged 3.8 percent; Dwight Eisenhower’s (1953-60) was 3 percent; John F. Kennedy-Lyndon Johnson, (1961-68), 5 percent; Richard Nixon-Gerald Ford (1969-76), 2.8 percent; Jimmy Carter (1977-80), 3.3 percent; Ronald Reagan (1981-88), 3.5 percent; George H.W. Bush (1989-92), 2.3 percent; Bill Clinton (1993-2000), 3.9 percent; and George W. Bush (2001-08), 2.1 percent. In contrast, Mr. Obama from 2009 to 2013 averaged 1.25 percent.
To catch George W. Bush, Mr. Obama would have to average real economic growth of 3.55 percent over each of the next three years. That would mean a 25 percent increase above his best year’s growth — 2.8 percent in 2012. That’s a tall order, considering last year’s growth was just 1.9 percent, and this year’s first quarter came in at a negative 1 percent.
After 5 years in office, the defense that he inherited a poor economy no longer resonates with most Americans. Looking at the earlier presidents, receiving a troubled economy is not unique — FDR and Reagan did — and others, such as George W. Bush with September 11, experienced unavoidable events that hit the economy hard.
Uneventful economies are the exception — only Kennedy-Johnson and Mr. Clinton had economies without a negative economic growth year. The key is how presidents responded to the hits.
Read more: http://www.washingtontimes.com/news/2014/jun/9/young-closing-the-book-on-obamas-record-of-economi/#ixzz34rAWqllY
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