Monday, January 30, 2017

Obama's 8 years by Mike Huckabee

"The final numbers on the eight-year Obama economy are in, and they also constitute the final nails in that shoddily-made coffin. Fourth quarter GDP growth for 2016 clocked in at a feeble 1.9%. That means Obama officially earned an inglorious place in US presidential history by presiding over eight straight years of GDP growth below 3%.

Investors Business Daily crunched the final numbers, and they are grim. While Obama and his defenders strained their backs taking bows for “saving the economy” and creating millions of jobs, the best spin you can put on their efforts is that they were “below average.” Compared to average GDP growth across US history, GDP under Obama was $2.4 trillion less than average for any other eight-year period, which reflects $19,000 less income per household. It was also about a trillion dollars less than Obama’s own predictions. Yes, we all know the excuse: he took office following an economic crisis. But the recession officially ended just five months into his tenure. On average, 7-1/2 years after a recession ends, jobs have increased by 18%. Under Obama, they’d increased by only 10.9%, representing 12 million fewer jobs than average.

There’s a lot more at the link, but you get the idea. For eight years, we heard rosy predictions and lots of praise for Obama's policies, but those didn’t match the reality experienced by Americans who were struggling with stagnant wages and slow job growth. Obama's super-regulatory, big government policies were actually restraining growth. There were many reasons why Hillary Clinton lost to Trump, but this is probably the most important. By ignoring the voters’ #1 concern - jobs and the economy -- and thinking she could win via gender identity politics, calling her opponent names and promising to continue Obama’s allegedly “popular” policies that really weren't, she made the worst rookie mistake that any politician can make: she fell for her own propaganda."

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