Obama's Worst Economy in History No Longer Bush's Fault

Started by Solar, May 30, 2015, 04:34:14 PM

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Solar

That's Right, global warming is to blame. :lol:

By Terence P. Jeffrey | May 29, 2015 | 2:15 PM EDT

Even if you leave out the first quarter of 2009—when the recession that started in December 2007 was still ongoing--President Barack Obama has presided over the lowest average first-quarter GDP growth of any president who has served since 1947, which is the earliest year for which the Bureau of Economic Analysis has calculated quarterly GDP growth.

In all first quarters since 1947, the real annual rate of growth of GDP has averaged 4.0 percent.

In the seven first quarters during Obama's presidency, it has declined by an average of -0.43 percent. And if you leave out the first quarter of 2009 and look only at the first quarters of the six years since the recession ended, it has averaged only 0.4 percent.

In the six years of Harry Truman's presidency for which the BEA has calculated quarterly GDP, the annual rate of growth in GDP in the first quarter averaged 4.5 percent.

During President Eisenhower's eight years, it averaged 3.2 percent. During Kennedy's three years, it averaged 4.9 percent. During Johnson's five years, it averaged 8.3 percent. During Nixon's six years, it averaged 5.3 percent. During Ford's two years, it averaged 2.3 percent. During Carter's four years, it average 2.4 percent. During Reagan's eight years, it average 2.1 percent. During George H.W. Bush's four years, it average 2.9 percent. During Clinton's eight years, it averaged 2.6 percent. And during George W. Bush's eight years, it averaged 1.7 percent.

President Obama took office on Jan. 20, 2009. In the first quarter of 2009, GDP declined at an annual rate of -5.4 percent. In the first quarter of 2010, it grew by 1.7 percent. In the first quarter of 2011, it declined -1.5 percent. In the first quarter of 2012, it grew 2.3 percent. In the first quarter of 2013, it grew 2.7 percent. In the first quarter of 2014, it declined -2.1 percent. And in the first quarter of 2015, it declined -0.7 percent.

In these seven first quarters that Obama has been president (2009 through 2015), the annual rate of growth in GDP has declined at an average rate of -0.43 percent.

But the National Bureau of Economic Research says the last recession, which began on December 2007 did not end until June 2009. If you leave out the first quarter of 2009, and only count the six years (2010-2015) since the recession ended in June 2009, real annual rate of growth of GDP in the post-recession first quarters of Obama's presidency has averaged 0.4 percent.

When GDP declined at -1.5 percent in the first quarter of 2011—which was after the recession and two full years into Obama's presidency—some blamed it at least partly on the weather.

"Some of the slowdown in growth was linked to bad weather in early 2011 and an 11.7 percent decline in defense spending," said a Reuters story of May 27, 2011.

When real GDP declined at a rate of -2.1 percent in the first quarter of 2014, a May 30, 2014 New York Times story said: "Most economists on Wall Street and at the Federal Reserve blame a very cold winter for much of the slowdown."

When real GDP declined at a rate of -0.7 percent in the first quarter of this year, the top paragraph of an Associated Press story said: "The U.S. economy shrank at a 0.7 percent annual rate in the first three months of the year, depressed by a severe winter and a widening trade deficit."

But there seems something more at work here than climate patterns--or the Obama presidency.

http://www.cnsnews.com/blog/terence-p-jeffrey/blame-it-global-cooling-obama-has-lowest-average-1stq-gdp-growth-any
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taxed

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Solar

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Solar

Quote from: taxed on May 30, 2015, 04:38:36 PM
Lowest 1Q?  He also has the lowest IQ.
Check out Discuss and look for this morons comments. He actually believes the shit he posts.
Jay Bills
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taxed

Quote from: Solar on May 30, 2015, 04:47:58 PM
Check out Discuss and look for this morons comments. He actually believes the shit he posts.
Jay Bills

What thread?
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Solar

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taxed

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taxed

Quote from: taxed on May 30, 2015, 06:48:50 PM
I've been scrolling forever and I can't find him...

Oh, I see him in your discussions... reading.....
#PureBlood #TrumpWon

Solar

Quote from: taxed on May 30, 2015, 06:49:58 PM
Oh, I see him in your discussions... reading.....
yeah, he was down a ways on the page. The guy is a seriously brainwashed idiot lib.
I do a control/F to bring up search to find people on these threads that I want to hammer relentlessly. :biggrin:
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Cryptic Bert

What will Hilary, Bernie and Martin do different?

Solar

Quote from: The Boo Man... on May 30, 2015, 07:43:41 PM
What will Hilary, Bernie and Martin do different?
Turn left and lie even more? They have but one real option. However, to move Right, would mean admitting Marxist policy failed.
Money is on them lying even more than at anytime in the past.
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Quote from: Solar on May 30, 2015, 08:12:43 PM
Turn left and lie even more? They have but one real option. However, to move Right, would mean admitting Marxist policy failed.
Money is on them lying even more than at anytime in the past.

I expect them to play the income equality card.

red_dirt

Quote from: taxed on May 30, 2015, 04:38:36 PM
Lowest 1Q?  He also has the lowest IQ.

Not sure how this remark was meant, but I take it as a mixture of humor and irony; meaning that it is funny but with an element of truth to it that gives the humor an edge.

Most probably still remember The Bell Curve and the controversy set off by a book that correlated IQ with so many factors, race included.  No one likes being told that their group is not as "smart" as someone else's. That includes whites being told that Asians score "slightly higher" than whites non Hispanic. Part of the hurt pride and misunderstanding comes from writers and researchers not fully communicating the nuances and influences that go into figuring the IQ.  That definitely applies to Murray and The Bell Curve, even though the book takes up a good chunk of the shelf.

I am in a position to know first hand as much as some young professional researchers in this field who think they know the score, because as I age, I have first hand knowledge of watching the mind and body at work, gradually losing IQ points as the mind and body age. All of you, regardless of age, will experience this very same thing. It is normal, and it is nothing to be ashamed of; that is, if you can embrace your aging gracefully and not get all worked up about it.  I won't go on about this, interesting as it might be to a limited number of forum readers, but I will say that as I have aged, I have lost the will or energy to stick with the  mental processes required to solve those tricky intelligence operations. I take it with a sense of humor, but the fact is, as you age, you just do.  Motivation and drive is a huge part of it. We get lazy in that area because we ae not under the same pressure as the young. In a sense, we even develop  a greater appreciation for youthful talent than we had ourselves, years ago.

There are other real factors, too. Since Colorado has legalized marijuana, public information is coming in like never before. How many know that loss of IQ and teen drug use are as predictable as the time of day?  Colorado has turned itself into a human laboratory.

So, yeah, there is a factor. It all goes towards hiring "best qualified," which should be a Civil Service standard.
What a mess the Democrats make of things.