Quote:
Originally Posted by spence
Longest run job growth ever. Obama’s GDP the last three years stronger than Trumps. Keep shoveling.
Posted from my iPhone/Mobile device
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Obama's RECOVERY stats, including GDP, were well below, on average, the recoveries from previous recessions/depression. Those in the past averaged well above or close to 4% GDP during recovery.
So Obama's comparatively anemic recovery took a lot longer to get above water, so to speak. And once achieving that point, it would be harder to maintain a 2 to 3% growth in GDP than it would from a recession low. 2-3% rise from a broken economy is not much growth, but the same percentage growth from a more stabilized economy is more difficult to sustain without actually significant expansion in the economy. To maintain similar growth of 2-3% after that, under Trump, would actually be the ideal growth rate from a "stable" economy, which would be more difficult to do than from a recession economy, so would be far more significant than Obama's similar numbers.
Also, it appears that different analysts have different numbers. Here's this from the FEE:
"That being said, Puzder has a compelling indictment of Obama’s performance:
'During a typical recovery, the economy grows at a rate between 3% and 4%, and the Obama administration predicted such a surge in its 2010 midsession review. It never came. The “recovery” of those years often felt much like a recession.'
"Amen. This echoes my criticism of Obamanomics. He made the US a bit more like Europe, so it’s no surprise that growth was weak.
"Let’s now look at Puzder’s evidence that Trump has done a better job. He compares the end of the Obama economy with the beginning of the Trump economy:
"GDP growth staggered along at 1.5% in Mr. Obama’s final six full quarters in office. …growth doubled to 3% during Mr. Trump’s first six full quarters. …the increase in job openings over Mr. Trump’s first 21 months has averaged an impressive 75,000 a month. Over Mr. Obama’s last 21 months in office, the number of job openings increased an average of 900 a month. …During Mr. Obama’s last 21 months, the number of employed Americans increased an average of 157,000 a month. Under Mr. Trump, the increase has accelerated to 214,000 a month, a 36% improvement. …In Mr. Obama’s final 21 months, weekly earnings rose an average of $1.31 a month. Under Mr. Trump, weekly earnings have increased an average of $1.84 cents a month: a 40% improvement that’s come mostly since tax reform took effect in January. Over that period, weekly earnings have grown an average of $2.31 a month, a 76% increase over Mr. Obama’s last 21 months. …The unemployment rate declined 13% during Mr. Obama’s last 21 months, but from there it has dropped another 23% during Mr. Trump’s tenure.'"