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than at any time since the 1930s, and that’s using government figures and not the real unemployment rate (U6) that has been replaced by new “updated” calculations.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 ...
Uh, it’s all Bush’s fault.
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.
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!
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.
That should be a statement not a question.
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.
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.”
Krugman was confused, flabbergasted, and then saddened.
Whoda thunk?
“Economically, Could Obama Be America’s Worst President?”
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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.
nobama is the “Reverse Midas”. Everything he touches turns to crap.
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