Posted on 12/08/2016 3:07:52 AM PST by expat_panama
President Obama has staked a great part of his legacy on the idea that he skillfully engineered a great recovery from the financial crisis. The Obama-friendly media routinely parrot the idea. But in fact, as a shocking new study from the nonpartisan U.S. Council on Competitiveness and the Gallup organization suggests, the so-called recovery doesn't exist.
As recently as Oct. 11, less than a month before the election, the online publication The Hill ran this headline: "Obama's economic legacy ensures Democrats decades of success." No kidding. But it's a bit unfair to single them out: Others have run with similar themes. The point is, it's not true.
The reason Obama's chosen successor, Hillary Clinton, didn't win a third straight presidential term for the Democrats was that they actually seemed to believe their own propaganda...
..."Conventional wisdom as reported in many major newspapers and media tells us the U.S. economy is 'recovering,'... ...there is no recovery. Since 2007, U.S. GDP per capita has been 1%."
It's even worse when looking at a trend line. From a range of about 2.6% to as high as nearly 3.5% a year during the late 1960s, per capita GDP has steadily declined over time...
...That's the bad news.
The good news is, it can be fixed. But it will take radically different policies and the political will to buck the special interests, lobbyists and crony capitalists that stand in the way.
As such, whether you like him or not, President-elect Donald Trump is beholden to no one but the voters for his unlikely victory in November. He may be ideally suited for the difficult, but necessary, job of reforming the economy to restore its once-extraordinary growth. Let's hope so. If not, the next presidential campaign is just 36 months away.
(Excerpt) Read more at investors.com ...
I know for a fact there has been no “recovery” in my area. The growth, what little there has actually been over the last 8 years, is about equivalent of what I saw in a single year when I first got here over a decade ago. The only job growth has been in part time jobs. Salary growth is virtually non existent. Recovery? My lily white backside.
Anemic growth with a trillion dollars in deficit spending every year is closer to no growth at all.
The media and Obama sycophants are still lauding him and trying to give him credit, especially for the current 4th quarter gains. Those gains seemed to really start around November 9. Go figure.
They may laud Obama on his way out, but history won’t be so kind to his legacy. He will be near or at the bottom with Carter. Carter only screwed stuff up for one term; Obama has had two.
If/when Trump and Congress finish off Obamacare and reverse many of the Obama EOs the courts haven’t nullified, Obama will basically have no legacy. His domestic policies were a sham and his foreign policy left many areas in shambles.
We are about 43 days away from reversing the Obama fundamental transformation of America [into a 3rd world cesspool].
Never was any real doubt about it but I have to ask, what about all the building that has taken place over the last decade or so? We just finished a trip through some of my old stomping grounds of 30 or more years ago and they are simply unrecognizable. Small towns that once did not have anything to speak of are now covered by big box stores and hotels. All look to be built in the last 10 to 15 years.
Shocked, yes shocked
Actually means there’s more room for growth now in the Trump boom.
As recently as Oct. 11, less than a month before the election, the online publication The Hill ran this headline: “Obama’s economic legacy ensures Democrats decades of success.” No kidding. But it’s a bit unfair to single them out: Others have run with similar themes. The point is, it’s not true.
You are exactly right! Global socialism.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.