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Obamanomics to Blame for Worst Recession Since the Great Depression
The New American ^ | June 4, 2013 | Bob Adelman

Posted on 06/07/2013 10:17:17 AM PDT by Perseverando

When libertarian scholar Peter Ferrara asked rhetorically in Sunday’s issue of Forbes, “Economically, Could Obama Be America’s Worst President?” he relied heavily on statistics provided by the chief enabler of the Great Recession, the Federal Reserve. Noting that the policies of President Obama have done nothing to stimulate the economy but plenty to keep it from growing, he used recent economic recoveries as prime examples of what recoveries would look like if government would stay out of the way:

The right measure and comparison for Obama’s record is not to compare the recovery to the recession, but to compare Obama’s recovery with other recoveries from other recessions since the Great Depression. By that measure, what is clear is that Obamanomics has produced the worst recovery from a recession since the Great Depression, worse than what every other President who has faced a recession has achieved since the Great Depression.

Using data from the Federal Reserve Bank of Minneapolis, Ferrara complained that it’s taken 64 months for the present recovery to regain the ground lost since the beginning of the Great Recession, whereas 64 months into the Reagan recovery, “jobs had grown 9.5% higher than where they were when [that] recession started, representing an increase of about 10 million more jobs.” By contrast, taking population growth into account, the present recession has cost 10 million jobs. The unemployment rate, according to Ferrara and the Minneapolis Fed, has stayed higher longer than at any time since the 1930s, and that’s using government figures and not the real unemployment rate (U6) that has been replaced by new “updated” calculations. Ferrara concluded: “This utterly failed jobs record of Obamanomics reflects the more basic reality that the economy has not been growing under President Obama.”

Ferrara rounded up additional statistics to support his point:

(Excerpt) Read more at thenewamerican.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Government; Politics/Elections
KEYWORDS: economy; greatdepression; obamanomics; recession

1 posted on 06/07/2013 10:17:17 AM PDT by Perseverando
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Comment #2 Removed by Moderator

To: Perseverando

Uh, it’s all Bush’s fault.


3 posted on 06/07/2013 10:18:56 AM PDT by dhs12345
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To: Perseverando

He’s a leftist. Like Roosevelt, Obama has intentionally extended the misery to advance his programs and agenda. They love era’s like this, the Great Depression and the ‘70’s, for help from government is sought after and beloved.


4 posted on 06/07/2013 10:36:09 AM PDT by cotton1706
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To: Perseverando

he got elected on “gimme a little more time to fix the economy”. And the fools bought it. To the detriment of all of us. Impeach this incompetent unlawful lying traitorous ba$turd!


5 posted on 06/07/2013 10:39:41 AM PDT by uncitizen (Brown skin is not a get away with treason free card!)
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To: F15Eagle

What else would you expect from an AFFIRMATIVE ACTION RECOVERY. But it’s ok. THE MSM will keep HIDING THE DECLINE because it was HISTORIC we ELECTED THE FIRST BLACK, said with a lisp.


6 posted on 06/07/2013 10:41:34 AM PDT by spawn44 (MOO)
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To: F15Eagle

That should be a statement not a question.


7 posted on 06/07/2013 10:42:34 AM PDT by Conserev1 ("Still Clinging to my Bible and my Weapon")
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To: Perseverando
Actually, this Obama economy is worse than the Great Depression.

It's only stuff like food stamps, welfare, 99-week unemployment, Government giveaways, etc. that mask the depths of the economic doldrums we are experiencing.

8 posted on 06/07/2013 10:58:06 AM PDT by eCSMaster ("God bless Planned Parenthood"- B.H.Obama, 2013)
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To: Perseverando

Silver down $0.85 today so far.

http://www.kitco.com/charts/livesilver.html


9 posted on 06/07/2013 11:30:42 AM PDT by DoughtyOne (Obama lied and four men died after he went to hide...)
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To: Perseverando
REAGAN BUMP....

Using data from the Federal Reserve Bank of Minneapolis, Ferrara complained that it’s taken 64 months for the present recovery to regain the ground lost since the beginning of the Great Recession, whereas 64 months into the Reagan recovery, “jobs had grown 9.5% higher than where they were when [that] recession started, representing an increase of about 10 million more jobs.”

By contrast, taking population growth into account, the present recession has cost 10 million jobs.

The unemployment rate, according to Ferrara and the Minneapolis Fed, has stayed higher longer than at any time since the 1930s, and that’s using government figures and not the real unemployment rate (U6) that has been replaced by new “updated” calculations.

Ferrara concluded: “This utterly failed jobs record of Obamanomics reflects the more basic reality that the economy has not been growing under President Obama.”

10 posted on 06/07/2013 11:35:12 AM PDT by newfreep (Breitbart sent me...)
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To: Perseverando

Krugman was confused, flabbergasted, and then saddened.


11 posted on 06/07/2013 11:36:50 AM PDT by going hot (Happiness is a momma deuce)
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To: Perseverando
Gee, you can spend your way to prosperity any more than you can regulate your way to Freedom.

Whoda thunk?

12 posted on 06/07/2013 11:53:59 AM PDT by MamaTexan (I am not a citizen of the United States, I am a citizen of the several States)
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To: Perseverando

“Economically, Could Obama Be America’s Worst President?”
..........................................................
Economically, Morally, Foreign Policy wise. Domestic Policy wise, vacation wise, Health Care wise, Family Values wise.

Did I miss anything?

This guy carries his own disaster area along with him.


13 posted on 06/07/2013 11:59:17 AM PDT by Venturer
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To: Venturer

nobama is the “Reverse Midas”. Everything he touches turns to crap.


14 posted on 06/07/2013 12:04:54 PM PDT by hal ogen (First Amendment or Reeducation Camp?)
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