Thanks to Obamanomics the US economy is plodding through the worst recovery in decades.
The Wall Street Journal reported:
The economic expansion—already the worst on record since World War II—is weaker than previously thought, according to newly revised data.
From 2012 through 2014, the economy grew at an all-too-familiar rate of 2% annually, according to three years of revised figures the Commerce Department released Thursday. That’s a 0.3 percentage point downgrade from prior estimates.
The revisions were released concurrently with the government’s first estimate of second-quarter output.
Since the recession ended in June 2009, the economy has advanced at a 2.2% annual pace through the end of last year. That’s more than a half-percentage point worse than the next-weakest expansion of the past 70 years, the one from 2001 through 2007. While there have been highs and lows in individual quarters, overall the economy has failed to break out of its roughly 2% pattern for six years.
It’s even worse than we thought.
Obama looks even worse, ranking dead last among all presidents since 1932 – over 80 years.
The Daily Caller reported:
Over the first five years of Obama’s presidency, the U.S. economy grew more slowly than during any five-year period since just after the end of World War II, averaging less than 1.3 percent per year. If we leave out the sharp recession of 1945-46 following World War II, Obama looks even worse, ranking dead last among all presidents since 1932. No other president since the Great Depression has presided over such a steadily poor rate of economic growth during his first five years in office. This slow growth should not be a surprise in light of the policies this administration has pursued.
OBAMA vs. REAGAN on GDP GROWTH — NOT EVEN CLOSE
Trickle Down Economics versus Trickle Down Socialism
Ronald Reagan’s economic plan saw GDP surge at a 3.5% clip – 4.9% after the recession. That’s a 32% bump.
During the Obama years, thanks to his big government policies, the US economy has stalled. Today the quarterly GDP was announced. The GDP for the first quarter of 2015 braked more sharply than expected at only a .2% pace. The US economy has grown an anemic 9.6% during the Obama years (excluding today’s dismal number).
Of course, Obama’s record on job growth is also much worse than President Reagan’s record.
Chattanooga Marine’s Message to Obama: You Have Done More Damage to this Country than Anyone
US Marine Cpl. Ty Hammons has had it with Barack Obama and his Marxist-Muslims regime and he took to YouTube to vent his frustrations regarding the usurper-in-chief in the wake of the Chattanooga Islamic jihad attack. Not only did he say that Obama was not deserving of the title Commander-in-chief, but he even said that he had done more damage to the country than anyone else.
“I’m not going to address you as President or the Commander In Chief,” he began. “You don’t deserve it. I fail to see in any way that you have earned it.”
“I am a citizen of the United States of America. More importantly, I am born and raised and a current resident of Chattanooga, Tennessee,” he continued. “I am proud to say that I’m a United States Marine…. I work six days a week at a blue collar job to provide for my wife and two sons, which doesn’t leave much time to do anything else. But, this is important, so I made the time.”
“The day of the attack, you delivered a statement and you don’t even have the decency to stand up,” the Marine Corporal blasted. “You talked on the Charleston issue standing up. You talked on the Boston Bombing standing up. Baltimore, standing. Mike Brown, standing. Greece, standing. Washington Naval Yard shooting, standing. Whitney frickin’ Houston, you stood up. Four Marines gunned down and killed, followed by a sailor . . . all on American soil, while on duty, but unarmed, defenseless, and you sit, slumped down in a chair and ramble through some poorly-scripted apology that seems as sincere as ‘If you like your doctor, you can keep your doctor.’”
“We have a saying in the Marine Corps at the end of your service,” he added. “You’re told: ‘Don’t drop your pack.’ Mr. Obama, you never put your pack on.”
US Recession Imminent – The worst economic expansion since WWII was just revised lower!
Durable Goods new orders has now fallen 5 months in a row (after revisions) flashing a orangey/red recession warning.
After 2 weak months, Durable Goods bounced more than expected in June (+3.4% vs +3.2% exp) – though non-seasonally-adjusted dropped 3.1% MoM. But ex-Transports remain deeply in recession territory.