Guest post by Joe Hoft
On Thursday we closed the book on the Obama economic “miracle” — and it’s a miracle we are not in a recession.
Last week the Commerce Department released its third revision for fourth-quarter 2016 gross domestic product. The number came in at a paltry 2.1 percent, meaning that growth during President Obama’s final year in office — the end of an “Error of Hope” — landed with a big thud at just 1.6 percent.
That low-water mark puts the Obama presidency in last place among all the post-World War II presidents when it comes to economic growth.
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 now ranks as the fourth worst presidency on record in GDP growth at 1.6%. 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.
Here are the average growth rates for each president since World War II:
- Johnson (1964-68), 5.3 percent
- Kennedy (1961-63), 4.3 percent
- Clinton (1993-2000), 3.9 percent
- Reagan (1981-88), 3.5 percent
- Carter (1977-80), 3.3 percent
- Eisenhower (1953-60), 3 percent
- Nixon (1969-74), 2.8 percent
- Ford (1975-76), 2.6 percent
- G.H.W. Bush (1989-92), 2.3 percent
- G.W. Bush (2001-08), 2.1 percent
- Truman (1946-52), 1.7 percent
- Obama (2009-16), 1.6 percent
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.
Obama left America in a mess!
See the following for additional reasons why Obama was the ‘Worst. President. Ever’:
Worst. President. Ever: Obama’s the Most Racist President in 50 Years – Since Democrat LBJ
Worst. President. Ever: Obama’s Failed Stimulus
Worst. President. Ever: Barack Hussein Obama’s Disdain for Christians and Jews
Worst. President. Ever: Obama’s Involvement in Hillary’s Criminal Email Activities
Worst. President. Ever: Obama’s Open Borders and Anti-US Immigration Actions
Worst. President. Ever: Obama’s Contempt of US Military Might
Worst. President. Ever. Will Obama Ever Be Charged in Court for His Many Lies to American People?
WORST. PRESIDENT. EVER: Obama’s Many Lies about the Benghazi Terror Attack
WORST PRESIDENT EVER: Obama’s Historically Low Home Ownership Rates
WORST PRESIDENT EVER: Obama Created ISIS – And Now the Killer Group Is Active in 17 Countries
WORST PRESIDENT EVER: Obama’s Libyan Catastrophe Unleashed Hell on Middle East and Europe
WORST PRESIDENT EVER: Obama’s $20 Trillion Debt an Unprecedented Disaster
WORST PRESIDENT EVER: Obama’s Actions and Inaction Created the Current Nightmare in Syria
WORST PRESIDENT EVER: Obama’s Signature Bill – Obamacare – Is a Complete Disaster
WORST PRESIDENT EVER: Obama Gave Billions to the World’s Leading Terrorist State Iran
WORST PRESIDENT EVER: Obama’s Food Stamp Nation
WORST PRESIDENT EVER: Obama Ignited Riots in Ferguson Over ‘Hands Up, Don’t Shoot’ Lie
WORST PRESIDENT EVER: Obama Released Taliban 5 for Deserter Bergdahl- Current Whereabouts Unknown
WORST JOBS PRESIDENT EVER: Obama’s 94 Million Jobless Americans
Worst President Ever…GDP Growth Shrinks by 0.7% in First Quarter
Alan Dershowitz GOES OFF on Obama: Worst Foreign Policy President Ever
Worst President Ever… Obama’s Legacy – Destruction of US Middle Class
TRUMP HITS OBAMA: His Ignorance Is Why He’s “Worst President in US History”
Voters Rate Obama Worst President in 70 Years
Donald Trump Slams “Make-Believe” Obama “Most Certainly the Worst President in US History” at FL Tea Party Rally
Dick Cheney Slams Obama: Carter no Longer Worst President of Our Lifetime (Video)
MUST SEE VIDEO>>> Chicago Inner City Blacks GO OFF on Obama Over Illegal Immigration “Worst President Ever”
It’s Official – Obama Is Worst President in History on Job Creation; Worse Than Hoover on Job Losses
Rep. Michele Bachmann: Obama Is Worst President Ever… “No Question” (Video)
There is even a book on this subject: