Obama Gives Himself an 'Incomplete' Grade on Fixing the Economy

[Mac_Muz]

I guess you don't learn economics playing golf.

[wrench409]

Hmmm.....when I went to school an incomplete just got you a big fat O

[MrClose]

Originally Posted by Arus

please. it's going to take 20 years to fix our economy, and anyone who thinks that it was going to be fixed in 4 years have been deluding themselves.

Yes, it's going to take the next 5 presidential terms to see a turn around in our economy. With the rest of the world in chaos in their own economies, it's going to be a while until everything is fine and dandy again.

Yes its an incomplete. No president has ever fixed an economy in 4 years .

REALLY?

In the first 2 ½ years of the Reagan recovery, the American economy created 8 million new jobs, the unemployment rate fell by 3.6 percentage points, real wages and incomes were jumping, and poverty had reversed an upsurge started under Carter, beginning a long-term decline. While Obama crows about 227,000 jobs created last month, in September, 1983 the Reagan recovery less than a year after it began created 1.1 million jobs in that one month alone. In the second year of the Reagan recovery, real economic growth boomed by 6.8%, the highest in 50 years.

In contrast, under President Obama, unemployment actually rose after June 2009, when NBER counts the recession as officially ending, and did not fall back down below that level until 18 months later in December 2010. Instead of a recovery, America has suffered the longest period of unemployment this high since the Great Depression. Even today, 51 months after the recession started, the U6 unemployment rate counting the unemployed, underemployed, and discouraged workers is still nearly 15%.

And that doesn't include all the workers who have fled the workforce under Obama's economic oppression. Under Obama's supposed recovery, the number of working age Americans not in the labor force rose by 7.14 million. As John Lott and Grover Norquist recently observed, "There is no comparable post-World War II 'recovery' where this type of exodus has occurred."

While in the second year of Reagan's recovery the economy boomed with real economic growth of 6.8%, the highest in 50 years, last year the American economy limped along with real economic growth a paltry 1.7%. The first quarter of this year will be similar.

The American Spectator : The Worst Economic Recovery Since the Great Depression