Obama and his
pet grinning baboon VP like to claim that the economy is still in bad shape because of the “horrific mess” that they inherited from Bush. That the mess wasn’t Bush’s is lie number 1. That Obama’s policies would have “worked” but for Republican intransigence is lie number 2. There are many more lies lying around the Obama White House, but a distaste for nausea prevents me from detailing them.
I will give Obama the benefit of the doubt by measuring the effectiveness of his “stimulus” not by the current state of the economy, but by how far it has advanced the economy since the depth of the Great Recession. As it happens, the Great Recession bottomed in the second quarter of 2009. The latest estimates of real GDP, 12 quarters later, indicate real growth since the bottom of 2.2 percent a year. How does that stack up against previous post-WWII recessions? Here’s how:
Even the short-lived recoveries from the 1958 and 1980 recessions were more robust than the Obama recovery of 2009-2012. Enough said.
Economic Growth Since World War II
The Economy Slogs Along
The Obama Effect: Disguised Unemployment
Obama’s Economic Record in Perspective
Where We Are, Economically
Keynesianism: Upside-Down Economics in the Collectivist Cause