Pethokoukis

Chart: Obama recovery only growing a third as fast as Reagan’s

obamareagan

White House economist Alan Krueger on the third-quarter GDP report:

Today’s report shows that the economy posted its thirteenth straight quarter of positive growth, as real GDP (the total amount of goods and services produced in the country) grew at a 2.0 percent annual rate in the third quarter of this year, according to the “advance” estimate released by the Bureau of Economic Analysis. Over the last thirteen quarters, the economy has expanded by 7.2 percent overall, and the private components of GDP have grown by 10.1 percent. While we have more work to do, together with other economic indicators, this report provides further evidence that the economy is moving in the right direction.

Wow, 7.2%. Sounds like a lot. Except during the first 13 quarters of the Reagan recovery following the horrific Long Recession of 1980-82, the economy expanded by nearly 3x as much, 19.6%. Heck, the economy expanded 7.2% in 1984 alone.

31 thoughts on “Chart: Obama recovery only growing a third as fast as Reagan’s

  1. FAILURE TO LAUNCH…

    …Very predictable from day #1. There was no stimulus in the stimulus and a bloated big and inefficient government crowded out the efficient private sector.

    The multiplier was not 1.5X as sold to America, it was more like less than 0.5X including transfer payments.

    The “smartest guy in the room” turned out to be a fiscal and financial illiterate.

  2. Here we go again with the AEI’s counterfeit economist regurgitating the same rubbish again. You might as well compare recovery rates from breast cancer to lung cancer, and declare one to be “superior.”

    How this person maintains any credibility in the economic blogosphere is a testimony to the ignorance and stupidity of the American political dialectic.

    You know what you can do with your bar graphs. They represent the upper limit of your knowledge.

    • And you consistently offer nothing–the same old vacant, touchy-feely, liberal garbage. No facts, no data, no evidence except that which you can cut and paste from some socialist propaganda rag.

      How much does the SEIU pay you to post here? I’l pay you twice as much to get your sorry ass lost.

      • Actually, from what he has said about his pedigree in his previous posts, I believe that he is a self-unemployed bond trader raging at the world because his credentials have been insufficient to insulate him from failure. To read his single variable economic arguments, however, it is quite clear why he has not met with success. Generally, I find his posts amusing, but recently they have become more and more sad. Perhaps he is lashing out because of his emotional investment in Obama and he now expects him to lose?

          • Whereas your inability to come to grips with reality that you rage at constantly is a never ending source of amusement…

            It gotta suck to be you…

        • He’s an X Bear Stearns bond trader and CFA who has been out of work ever since BS gave him his 30-year Timex some 20-years earlier than he anticipated.

          • Even if that were true, it amounts to far more than you will ever be: a trash talking ignoramus.

            You couldn’t get a GED, much less get past Level 1.

  3. It’s amazing what happens when the Fed induces a recession by jacking up interest rates and then lowers them. More amusingly government employment grew enormously under patron saint Ronald. I guess Pethokoukis wants the government to hire more teachers.

  4. And the winner is….

    Go back and look at the Reagan versus Obama GDP recoveries on an individual quarterly basis for 13-recovery quarters. Look at the quarterly data closely and you will discover that Obama’s very BEST quarter came in right at about Reagan’s very WORST quarter.

    So, we borrowed $5.5 trillion and that’s what we got to show for it–the WORST recovery on record. But we still owe that very same $5.5 trillion.

    America got FaceBooked, GMed and Solyndraed. YBM–You’ve Been Mugged.

    • You really are dumber than a bag a hammers. You claim economic literacy and make this statement:

      “Go back and look at the Reagan versus Obama GDP recoveries on an individual quarterly basis for 13-recovery quarters. Look at the quarterly data closely and you will discover that Obama’s very BEST quarter came in right at about Reagan’s very WORST quarter. ”

      Which means ABSOLUTELY NOTHING. NOTHING.

    • It’s reading the steaming heap of dogsh*t that IS the “Investor’s Business Daily” that turns ordinary people like you with limited intellects willing executioners.

      IBD is to journalism what a flat earth is to science. Keep drinking this poison until it kills you. They won’t care.

      • maxie baby continues to whine: “It’s reading the steaming heap of dogsh*t that IS the “Investor’s Business Daily” that turns ordinary people like you with limited intellects willing executioners“…

        Where as your factless rants are based in what?

        The singular reality that apparently only you can see?

        Keep trying maxie baby, sooner or later your tenuous grip on reality might inadvertantly strengthen one day and all will be clear to you….

      • Mr. O’Neill is a demagogue, and why are you even PRETENDING to be so oblivious to believe you would get an impartial, evenhanded appraisal of anything that comes out of his mouth?

        This moron is still ranting about CRA. He’s a Nazi. Period.

        • maxie whines: “Mr. O’Neill is a demagogue, and why are you even PRETENDING to be so oblivious to believe you would get an impartial, evenhanded appraisal of anything that comes out of his mouth?“…

          Long on inane but factless rant and short on substance as usual…

          Aren’t you suppose to be cheating some little old lady out of her life savings with one of your bonds?

          • If you’re so incredibly stupid to NOT see the bias in IDB, I wouldn’t be accusing a single soul of being “untethered to reality.”

            Because you have to be a brown shirted, goose stepping idiot NOT to see it. An d a fully fledged moron to boot.

            Adios, juandos.

          • If you’re so incredibly stupid to NOT see the bias in IDB, I wouldn’t be accusing a single soul of being “untethered to reality.”“…

            Tout au contraire maxie, I see plenty of bias in the IBD…

            IBD displays plenty of pro free market and real capitalist biases…

            I see IBD’s biases against socialism’neo-marxism, crony capitalists, and Keynesian parasitism…

            I can well imagine that for whining, shrieking, panty wetting collectivists like yourself sir, the IBD would be a most uncomfortable site to visit…

          • maxie whines: “Your response speaks for itself. And again, there is no such thing as a “free market.” You’re an immature fool“…

            Well maxie the irony in your comment is rather rich and more than a bit humerous considering that your nom de’ plume was a person that actually dealt in reality…

  5. ONE-THIRD THE GROWTH FOR JUST $5.5 TRILLION…

    No growth, no jobs, no benefits. But we still owe $5.5 trillion that is a drag on tomorrow’s growth.

    Americans got BULLSHlTED by a shuck-’n-jive, flim-flam, street hustler.

  6. And how much of Obama’s growth is artificial, debt financed govt controlled growth especially as a percentage of GDP whereas Reagans growth was much more organic, private side, sustainable growth. Obama’s “growth” is financed by $6 trillion in your tax dollars and his economy is thus a financial house of cards that crashes when Obama and his Fed stop financing it with free and easy (re low interest) money.

    • Reagan’s “growth” was fueled by a 1300 basis point cut in interest rates, and if you can’t get an economy going with that kind of hurricane at your back, you’ve really got a problem. The rest was fueled by massive debt, which is a lessong George Bush Jr took with him. Reagan was the biggest peacetime deficit whore in US history, but the deification of him continues.

      Just look at Pletka’s and Theissen’s pieces on Benghazi- think they would be so so critical after 300 marines died in Lebanon for no reason?

      This site is garbage, tailored for people stupid enough to rummage through it.

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