Graph comparing Reagan and Obama recoveries

[UncleBeer 244]

The average working man knew this already, but here's a visual representation of just how well the preznit's recovery is going:

How often have you heard a Democrat prattle on and on about how well Barack Obama has done with the economy, given the mess he inherited? Usually, it’s some version of, “Things are getting better, but the economy the President started with was so awful, so he’s done as well as anyone could expect.”

When Ronald Reagan took over from Jimmy Carter in ’81, things were actually worse economically compared to when Obama took over from George W. Bush in ’08.

Consider these three important comparisons of economic indicators, then and now:

- Unemployment was at 10.8% versus 7.7%

- Inflation (Consumer Price Index) was at 13.5% versus 2.7%

- Interest rates (prime rate) was at 21.5% versus 3.25%

In other words, Reagan inherited a bigger mess. Yet, there’s this chart of job growth:

Yes, you read that right: net job growth has declined under Obama. And by the end of the second year of their terms as President, economic growth under Reagan averaged 7.1% , under Obama an anemic 2.8%.

So, how did Reagan manage it? Across-the-board tax cuts, non-defense spending cuts, a restrained monetary supply, and deregulation.

What’s Obama done? Tax increases, spending increases, a massive money-supply increase through “quantitative easing,” and an explosive increase in regulations.

[GandD 5,966]

"Preznit" is an abbreviation and offensive.

[We Keep Receipts 9,238]

"Preznit" is an abbreviation and offensive.

Using that and demonize in every post is offensive to me. Reported.

[Crashed~N2~Me 970]

It makes clear which employed Keynesian economics effectively....but that said...considering history = US is currently running at a reasonable Debt / GDP ratio....question is = for how much longer until we are on the precipice of Global financial Apocalypse again...?

For all the stupid things having come out Biden's mouth...he got 1 right = the jobs ain't coming back...

IMO = we are already living in the "New Par"....& from now on - 5.5% unemployment will = Economic Boom. (look @ Texas for evidence)

Edited May 8, 2014 by Crashed~N2~Me

[OnMyWayID 1,489]

Edit: I had a long response here about Reagan and Obama and the fact that the deficit spending tool that worked in the 80's no longer has the same effect today due to the deficit size - we have to clean up or current deficit mess before we can expect prolonged growth.... But those are wasted words here so lets go to the backup:

Q: How much energy does it take to destroy a forest??

A: 1 Watt

HAHAHA! My favorite 80's political joke.

[one...two...tree 2,762]

We need to build an economy around energy production. Our current economic model is neither job creating nor sustainable.

[I AM NOT THAT GUY 5,715]

Seems to me that hippies and commies were seen but not heard during the Reagan administration.

[UncleBeer 244]

We need to build an economy around energy production.

Like the Keystone XL. You agree with 61% of Americans (or they agree with you!). This preznit's constant dithering over something that seemingly has virtually no 'down side' makes it easy to think he's deliberately trashing the US' economy.

[OnMyWayID 1,489]

It makes clear which employed Keynesian economics effectively....but that said...considering history = US is currently running at a reasonable Debt / GDP ratio....question is = for how much longer until we are on the precipice of Global financial Apocalypse again...?

One difference I notice between Reagan and Obama: Reagan employed an overall strategy on a macro scale and was almost autistic in his singular focus on his philosophy - He made the tough choice of letting unemployment rise to fight stagflation... Something Carter could not stomach.. He did not mind short term pain to fix a long term problem.

Obama is putting out fires.. In the current political climate maybe that's all he can do.. an economic report on NPR today said unemployment claims were down this week and "That's the first down trend in the last two reporting periods" - so they had a mild panic because for two weeks in a row the numbers were bad and they labeled it a trend. We've become slaves to near real-time metrics and the next set of numbers coming out...

Edited May 8, 2014 by OnMyWayID

[GandD 5,966]

One difference I notice between Reagan and Obama: Reagan employed an overall strategy on a macro scale and was almost autistic in his singular focus on his philosophy - He made the tough choice of letting unemployment rise to fight stagflation... Something Carter could not stomach.. He did not mind short term pain to fix a long term problem.

Obama is putting out fires.. In the current political climate maybe that's all he can do.. an economic report on NPR today said unemployment claims were down this week and "That's the first down trend in the last two reporting periods" - so they had a mild panic because for two weeks in a row the numbers were bad and they labeled it a trend. We've become slaves to near real-time metrics and are slaves to the next set of numbers coming out...

And vast amounts of speculation in between.

[OnMyWayID 1,489]

And vast amounts of speculation in between.

yeah good point - we did not have multiple 24 hour news channels in the 80's or the web to allow us to publicly wring our hands and talk about all the implications about that next set of numbers.

[UncleBeer 244]

Obama is putting out fires.. In the current political climate maybe that's all he can do..

Mmm; tell me something he's doing to help the economy? Demanding higher minimum wage when business are already struggling? More 'stimulus' which means printing more money to pay for it? Killing off the coal industry to make sure electricity isn't affordable? Dithering over Keystone XL for a few more years? 'Pivoting' from one disastrous effort to another? I'd say the preznit's lighting fires. And my favorite there: Is he a fool or a knave? I'm still sticking with knave.

an economic report on NPR today said unemployment claims were down this week and "That's the first down trend in the last two reporting periods" - so they had a mild panic because for two weeks in a row the numbers were bad and they labeled it a trend. We've become slaves to near real-time metrics and the next set of numbers coming out...

Don't forget the ever-important 'corrections' that come months down the road. Under this preznit's administration, the corrections have been nearly all negative, and the stories of corrections get buried by the MSM.

[We Keep Receipts 9,238]

Mmm; tell me something he's doing to help the economy? Demanding higher minimum wage when business are already struggling? More 'stimulus' which means printing more money to pay for it? Killing off the coal industry to make sure electricity isn't affordable? Dithering over Keystone XL for a few more years? 'Pivoting' from one disastrous effort to another? I'd say the preznit's lighting fires. And my favorite there: Is he a fool or a knave? I'm still sticking with knave.

Don't forget the ever-important 'corrections' that come months down the road. Under this preznit's administration, the corrections have been nearly all negative, and the stories of corrections get buried by the MSM.

Wait, didn't you come on here and praise ACA? Something about you living on the dole...

[UncleBeer 244]

Wait, didn't you come on here and praise ACA? Something about you living on the dole...

What the hell are you blabbering about now?

[OnMyWayID 1,489]

Mmm; tell me something he's doing to help the economy? Demanding higher minimum wage when business are already struggling? More 'stimulus' which means printing more money to pay for it? Killing off the coal industry to make sure electricity isn't affordable? Dithering over Keystone XL for a few more years? 'Pivoting' from one disastrous effort to another? I'd say the preznit's lighting fires. And my favorite there: Is he a fool or a knave? I'm still sticking with knave.

Raising the minimum wage is not a bad thing for businesses.. 100,000 people with 50,000 dollars will buy more cars than an exec with half a billion in his pocket. Money has to move in an economy and when too much of it is sequestered at the top the investment of that money does not go to areas that make the economy grow (like investing in factories) instead it goes into assets such as property and houses which just create bubbles. Balance and spread *is* important..

What would you suggest the president do right now?? really.. what?

I have an idea.. Remember when Bush sent out 400 dollar checks to help give the economy a boost?? (which really is just deficit spending - stealing from the future for a boost now).. here is my plan: I place most of the blame for the 2008 bubble on financial institutions and everyone involved in the housing industry (besides the builders).. We should do a *one time* forced lowering of *all* outstanding mortgages to an interest rate of 3% for the remaining life of the loan.. This would lower average monthly mortgage payments per person by 100 to 1200 per month.. Its like the Bush boost but every single month with no borrowing needed.. Imagine how many people would not have lost their homes and how many mortgages would not have been written off.. Now somebody pays for this obviously: The banks who profited from and largely caused the problem in the first place.. They will have reduced profits but that's a good thing - our financial sector seems to think that half trillion dollar profits every quarter should be the norm.. that BS and not good for the economy as a whole because those profits are siphoned from businesses that create the jobs.

Now on the energy thing.. I've pointed this out in another thread but it bears repeating:

In the year 2013...

The US passed Germany and was the #1 in the world in new solar installations (not in 2014 - 2015 looks good)

The US passed China and was #1 in the world in new wind installations

The US passed Russia and was #1 in the world for natural gas production

The US passed Saudi Arabia and was #1 in the world for Oil extraction

So you b**ch about coal...

The US is poised to become a net energy exporter (more energy produced than we use) for the first time within the next ten years, could happen as soon as five.. F**K coal...

Edited May 8, 2014 by OnMyWayID