Decent cash flow in strong economic times can cause voters to look past much that’s distasteful. But problems are more difficult to overlook when they can’t be papered over, and Americans have had to tighten their belts in response to weak financial conditions globally.
The Commerce Department released data that showed the US economy expanded during the first quarter of the year at the slowest pace in two years – a pathetic 0.5% rate. That follows a less than scintillating 1.4% rate in the fourth quarter.
If the economy finishes the year with a GDP rate below 2.67%, according to Louis Woodhill, President Obama will leave office with the fourth worst economic record in US history.
“Assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list of 29, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%), and Theodore Roosevelt (1.41%.)”
President Obama will also leave office as the only president in U.S. history who did not deliver one single year of 3.0% or better economic growth!
The rate of real economic growth is the single best determinant of America’s strength and the well-being of its people.
Is there any better single reason why the political excitement has been at the edges, with the true outsiders in the campaign to date?
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