The truth is out and it’s not looking good for Obama. The Commerce Department released its third revision for fourth-quarter 2016 gross domestic product. The number came in at a meager 2.1 percent. This means in Obama’s final year, economic growth landed with a big thud at just 1.6 percent.
That puts the Obama presidency in, let’s see…last place among all the post-World War II presidents when it comes to economic growth! Something we are sure he’s proud of…
So proud, he’s lost for words! That’s why he hasn’t said anything about it.
There have been 13 post-WWII presidents, beginning with Harry Truman, who had the disadvantage of beginning in the aftermath of war in 1946, during which the economy contracted 11.6 percent — four times the contraction any other negative year since — and even he bested Obama’s economic record!
Truman, a moderate Democrat, also posted the two best years of growth on record: 1950 at 8.7 percent and 1951 at 8 percent, and there was no zero percent interest rate to gin up the economy back then.
Here are the average growth rates for each president:
Johnson (1964-68), 5.3 percent
Kennedy (1961-63), 4.3 percent
Clinton (1993-2000), 3.9 percent
Reagan (1981-88), 3.5 percent
Carter (1977-80), 3.3 percent
Eisenhower (1953-60), 3 percent
Nixon (1969-74), 2.8 percent
Ford (1975-76), 2.6 percent
G.H.W. Bush (1989-92), 2.3 percent
G.W. Bush (2001-08), 2.1 percent
Truman (1946-52), 1.7 percent
Obama (2009-16), 1.6 percent