Worst. President. Ever: Obama First President EVER to Not Reach 3% GDP Growth

[RBP]

Worst. President. Ever: Obama First President EVER to Not Reach 3% GDP Growth

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.

http://i.imgur.com/gRPSwzw.jpg

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%.

[Teh One Who Knocks]

He's leaving office with a 60% approval rating :nono:

[RBP]

He's leaving office with a 60% approval rating :nono:

http://i.imgur.com/kgF5N8a.jpg?1

[Pony]

He's leaving office with a 60% approval rating :nono:

Because we now have to reward failure.

[PorkChopSandwiches]

I do the think he was the only ever, but at least since WW2

[Goofy]

I do the think he was the only ever, but at least since WW2

I also do the think :thumbsup:

[DemonGeminiX]

:lol:

[The Monk]

It should be remembered that when he took office in 2008 it was the GFC.... to have come back from there to what he leaves is quite an achievement.

[RBP]

It should be remembered that when he took office in 2008 it was the GFC.... to have come back from there to what he leaves is quite an achievement.

Oh please. :roll:

http://i.imgur.com/5bNHSRQ.jpg

[Godfather]

It should be remembered that when he took office in 2008 it was the GFC.... to have come back from there to what he leaves is quite an achievement.

I'll add... Obama leaves on 78 straight months of economic expansion and 68 months of private sector job growth. Unemployment is down, DOW is high, lowest annual gov spending increases since Eisenhower and a budget deficit trending the right direction. Dependence on foreign oil down, helped save the US auto industry, major credit card reforms, etc. etc... Lots of economic positives you can entertain, although some refuse.

And we don't know what weight this 3% benchmark carries. US GDP growth has been under 3% for 10 year... Macro-economic models predict that as economies expand, GDP buoyancy settles. You know what countries have high GDP growth? Mostly unstable ones. (https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate) Plus, consider what other Presidents did to get their 3%... you could to point fingers at two Bush's and a Clinton for their policies that contributed to the housing crisis and that mess, or Regan for nearly tripling national debt.


But... while I don't believe this is Obama's fuck up, I think I'm finally understanding why he clearly blew it. He wasn't the open and honest administration he promised. He punished whistle blowers. He spent a shit load of time and energy on a botched health care reform. Racial tension is as bad as ever (go figure). The TPP he supported can go to hell (Trudeau are you listening?). His Wall Street reforms probably slowed recovery. He was given a Nobel Peace Prize and then went on to drone strike all over the world... as ISIS rose (under a bad Hillary appointment)...

The guy pissed off and let down enough people that they went out and found the biggest, baddest nemesis of his that they could to try and fix it, and so Obama's Democrats were utterly destroyed in the election largely thanks to his groundwork.

Monk.. I'm probably spitting a ton of gibberish here (and I expect to be picked apart), but this is what I've gathered the past few months as a random outsider/citizen of the internet :lol:

[RBP]

I'll add... Obama leaves on 78 straight months of economic expansion and 68 months of private sector job growth. Unemployment is down, DOW is high, lowest annual gov spending increases since Eisenhower and a budget deficit trending the right direction. Dependence on foreign oil down, helped save the US auto industry, major credit card reforms, etc. etc... Lots of economic positives unless you flatly refuse to consider them (as some may).

And we don't know what weight this 3% benchmark carries. US GDP growth has been under 3% for 10 year... Macro-economic models predict that as economies expand, GDP buoyancy settles. You know what countries have high GDP growth? Mostly unstable ones. (https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate) Plus, consider what other Presidents did to get their 3%... you could to point fingers at two Bush's and a Clinton for their policies that contributed to the housing crisis and that mess, or Regan for nearly tripling national debt.


But... while I don't believe this is Obama's fuck up, I think I'm finally understanding why he clearly blew it. He wasn't the open and honest administration he promised. He punished whistle blowers. He spent a shit load of time and energy on a botched health care reform. Racial tension is as bad as ever (go figure). The TPP he supported can go to hell (Trudeau are you listening?). His Wall Street reforms probably slowed recovery. He was given a Nobel Peace Prize and then went on to drone strike all over the world... as ISIS rose (under a bad Hillary appointment)...

The guy pissed off and let down enough people that they went out and found the biggest, baddest nemesis of his that they could to try and fix it, and so Obama's Democrats were utterly destroyed in the election largely thanks to his groundwork.

Monk.. I'm probably spitting a ton of gibberish here (and I expect to be picked apart), but this is what I've gathered the past few months as a random outsider/citizen of the internet :lol:

JFC. It's 2:29 am here. So, rather than debate this, I will reserve. But you're on my radar, son.

[Godfather]

Bro I wouldn't post all that shit if you weren't online :lol: Dont bail now :P

[RBP]

Bro I wouldn't post all that shit if you weren't online :lol: Dont bail now :P

http://i.imgur.com/dKXDIAE.jpg

[RBP]

Bro I wouldn't post all that shit if you weren't online :lol: Dont bail now :P

Although I respect your ability to make me wake up in the middle of the night screaming "fucking Canadian"

[Godfather]

:rofl: I'm going to bed too, but I'll picture you tossing and turning trying to figure out how to call me an idiot in 20 different ways.

[Teh One Who Knocks]

I'll add... Obama leaves on 78 straight months of economic expansion and 68 months of private sector job growth. Unemployment is down, DOW is high, lowest annual gov spending increases since Eisenhower and a budget deficit trending the right direction. Dependence on foreign oil down, helped save the US auto industry, major credit card reforms, etc. etc... Lots of economic positives you can entertain, although some refuse.

And we don't know what weight this 3% benchmark carries. US GDP growth has been under 3% for 10 year... Macro-economic models predict that as economies expand, GDP buoyancy settles. You know what countries have high GDP growth? Mostly unstable ones. (https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate) Plus, consider what other Presidents did to get their 3%... you could to point fingers at two Bush's and a Clinton for their policies that contributed to the housing crisis and that mess, or Regan for nearly tripling national debt.


But... while I don't believe this is Obama's fuck up, I think I'm finally understanding why he clearly blew it. He wasn't the open and honest administration he promised. He punished whistle blowers. He spent a shit load of time and energy on a botched health care reform. Racial tension is as bad as ever (go figure). The TPP he supported can go to hell (Trudeau are you listening?). His Wall Street reforms probably slowed recovery. He was given a Nobel Peace Prize and then went on to drone strike all over the world... as ISIS rose (under a bad Hillary appointment)...

The guy pissed off and let down enough people that they went out and found the biggest, baddest nemesis of his that they could to try and fix it, and so Obama's Democrats were utterly destroyed in the election largely thanks to his groundwork.

Monk.. I'm probably spitting a ton of gibberish here (and I expect to be picked apart), but this is what I've gathered the past few months as a random outsider/citizen of the internet :lol:

While I will give you points for all the negative items you did point out about the Obama presidency (and you brought up some very good points), not all of those positive ones are either truly positive or the result of his policies. Let me just tackle one thing that you brought up, unemployment/economy. The unemployment rate during most, if not all, his administration has been smoke and mirrors. There are multiple unemployment rates used in this country. The one that is always used by the Obama administration is the U3 rate, which is the amount of people actually collecting unemployment benefits and active looking for a job. This rate does not include people no longer looking for work or collecting unemployment benefits. Then, there is the U5 rate (which includes discouraged workers and all other marginally attached workers) and the U6 rate which adds on those workers who are part-time purely for economic reasons because they need the freaking money that bad so they do what they need to do. The most current numbers available are for December 2016 and the rosy happy U3 number claims that unemployment in this country is only at 4.7%. But, if we look more at the real numbers and the U6 rate, the true unemployment rate is 9.2%. Not exactly the sign of good economic times my friend.

Now couple all that with the labor participation rate in the United States:

http://i.imgur.com/A63FvrBl.png

As you can see, we have the lowest amount of workers in the work force since the Carter administration almost 40 years ago. And, during his entire presidency, the rate of people working trended downward except towards the end where it leveled off somewhat, but there is definitely no upward trend whatsoever during his 2 terms as president.

You also bring up budget deficits. While yes, they did trend downwards during his administration, he still ran the highest budget deficit total of any president ever. The US government, under Obama, is more than $6.6 trillion in the hole.

http://i.imgur.com/UNIgwqi.jpg

As shown in the above graphic, the total federal budget deficit increased by 57% over that of Bush 43 which goes to the point that many fiscal conservatives keep making, this country doesn't have a need to collect more taxes from people, this government had a HUGE spending problem. One of the many reasons people favored Trump, a businessman, over a corrupt career politician like Clinton.

And lastly, let's segue over to the giant elephant in the room when it comes to the US economy, the National Debt. When Obama was sworn into office on January 20, 2009 the US National Debt stood at $10.626 trillion. As of right now it's at $19.962 trillion. So under the Obama administration, he added more to the US National Debt almost as much as every single president in history combined.

So, people that try and put forward the Obama did good things for this economy tend to overlook all these things. If anything, he drove the US economy further into the ground the longer he was in office. The budget deficits and National Debt are unsustainable and even with the largest economy in the world, there is no way we can sustain the democratic party policies of giving shit away for free anymore or even the mighty United States could collapse under the weight of all this debt.

[Muddy]

I knew godfather was looking for trouble when he posted that. :lol:

[RBP]

:rofl: I'm going to bed too, but I'll picture you tossing and turning trying to figure out how to call me an idiot in 20 different ways.

I was at 22 before my head hit the pillow.

[RBP]

While I will give you points for all the negative items you did point out about the Obama presidency (and you brought up some very good points), not all of those positive ones are either truly positive or the result of his policies. Let me just tackle one thing that you brought up, unemployment/economy. The unemployment rate during most, if not all, his administration has been smoke and mirrors. There are multiple unemployment rates used in this country. The one that is always used by the Obama administration is the U3 rate, which is the amount of people actually collecting unemployment benefits and active looking for a job. This rate does not include people no longer looking for work or collecting unemployment benefits. Then, there is the U5 rate (which includes discouraged workers and all other marginally attached workers) and the U6 rate which adds on those workers who are part-time purely for economic reasons because they need the freaking money that bad so they do what they need to do. The most current numbers available are for December 2016 and the rosy happy U3 number claims that unemployment in this country is only at 4.7%. But, if we look more at the real numbers and the U6 rate, the true unemployment rate is 9.2%. Not exactly the sign of good economic times my friend.

Now couple all that with the labor participation rate in the United States:

http://i.imgur.com/A63FvrBl.png

As you can see, we have the lowest amount of workers in the work force since the Carter administration almost 40 years ago. And, during his entire presidency, the rate of people working trended downward except towards the end where it leveled off somewhat, but there is definitely no upward trend whatsoever during his 2 terms as president.

You also bring up budget deficits. While yes, they did trend downwards during his administration, he still ran the highest budget deficit total of any president ever. The US government, under Obama, is more than $6.6 trillion in the hole.

http://i.imgur.com/UNIgwqi.jpg

As shown in the above graphic, the total federal budget deficit increased by 57% over that of Bush 43 which goes to the point that many fiscal conservatives keep making, this country doesn't have a need to collect more taxes from people, this government had a HUGE spending problem. One of the many reasons people favored Trump, a businessman, over a corrupt career politician like Clinton.

And lastly, let's segue over to the giant elephant in the room when it comes to the US economy, the National Debt. When Obama was sworn into office on January 20, 2009 the US National Debt stood at $10.626 trillion. As of right now it's at $19.962 trillion. So under the Obama administration, he added more to the US National Debt almost as much as every single president in history combined.

So, people that try and put forward the Obama did good things for this economy tend to overlook all these things. If anything, he drove the US economy further into the ground the longer he was in office. The budget deficits and National Debt are unsustainable and even with the largest economy in the world, there is no way we can sustain the democratic party policies of giving shit away for free anymore or even the mighty United States could collapse under the weight of all this debt.

:qft: Well done. You saved me a couple hours, much appreciated. :lol:

I want to add one thing that I have heard a lot. "but that's how the numbers have always been calculated so it isn't right to use a different standard for Obama".

It's not "for Obama", it is using a calculated and reporting method that hasn't changed since people got a job with a corporation and stayed there until they retired or got laid off. Part time work, even the nature of the so called "gig economy" mandates a change in the way we view employment. Combining that with Lance well explained point about workforce participation and it demonstrates that it is not apples to apples at all.

The one thing I haven't seen is a good break down of those not in the workforce so i have that as an * in my mind. Partially due to easier access to disability? Partially due to baby boomers retiring in record numbers? Are people in the cash economy counted? What portion is impacted by changing trend lines in youth employment? etc etc etc... but the point still remains, I just want more information. We can't assume that it's all from people who gave up looking.

[The Monk]

I'll add... Obama leaves on 78 straight months of economic expansion and 68 months of private sector job growth. Unemployment is down, DOW is high, lowest annual gov spending increases since Eisenhower and a budget deficit trending the right direction. Dependence on foreign oil down, helped save the US auto industry, major credit card reforms, etc. etc... Lots of economic positives you can entertain, although some refuse.

And we don't know what weight this 3% benchmark carries. US GDP growth has been under 3% for 10 year... Macro-economic models predict that as economies expand, GDP buoyancy settles. You know what countries have high GDP growth? Mostly unstable ones. (https://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate) Plus, consider what other Presidents did to get their 3%... you could to point fingers at two Bush's and a Clinton for their policies that contributed to the housing crisis and that mess, or Regan for nearly tripling national debt.


But... while I don't believe this is Obama's fuck up, I think I'm finally understanding why he clearly blew it. He wasn't the open and honest administration he promised. He punished whistle blowers. He spent a shit load of time and energy on a botched health care reform. Racial tension is as bad as ever (go figure). The TPP he supported can go to hell (Trudeau are you listening?). His Wall Street reforms probably slowed recovery. He was given a Nobel Peace Prize and then went on to drone strike all over the world... as ISIS rose (under a bad Hillary appointment)...

The guy pissed off and let down enough people that they went out and found the biggest, baddest nemesis of his that they could to try and fix it, and so Obama's Democrats were utterly destroyed in the election largely thanks to his groundwork.

Monk.. I'm probably spitting a ton of gibberish here (and I expect to be picked apart), but this is what I've gathered the past few months as a random outsider/citizen of the internet :lol:

Some good points at the beginning... :lol: