Personal Income Growth in Obama Years Weakest in History [semi-satire]

Semi-News/Semi-Satire ^ | 5 Feb 2017 | John Semmens

[John Semmens]

The year-to-year rate of growth in personal income in the United States was lower during President Obama's recently completed two terms than at any other period recorded in this country's history. In the last year of the Bush Administration the growth rate was 4.7%. In the last year of the Obama Administration the rate fell to 3.4%. This contrasted especially unfavorably to the average 9.5% annual increases during the Reagan years.

Ranking member of the House Energy & Commerce Committee Rep. Frank Pallone (D-NJ) made an effort to defend the Obama record by pointing out that "when Reagan took office the growth rate was 10.8% and fell to 8.5% by his last year in office. This was a 2.3% drop. When Obama took office the rate was 4.7% and only fell to 3.4% by his last year. So, the decline in annual income growth of 1.3% during the Obama years was smaller than the 2.3% decline during the Reagan years."

Of course, the actual level of income over the eight Reagan years rose by more than 100%. The actual level of income over the Obama years rose by a more modest 37%. Perhaps the divergent economic policies of low tax rates and less regulation of Reagan's Administration compared to the higher tax rates and more regulation of the Obama Administration played a role.

if you missed any of this week's other semi-news/semi-satire posts you can find them at...

http://www.gopbriefingroom.com/index.php/topic,247686.0.html