Trickle Down Economics versus Trickle Down Socialism
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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.
Net job growth has declined under Obama. By the end of the second year of their terms as president, economic growth under Reagan averaged 7.1% , under Obama an anemic 2.8% . (IJ Review)
And today, more than five years into the tepid recovery, labor-force participation remains at its lowest level since 1978 during the Carter years.