Don’t buy the lie that Obama’s leaving behind a healthy economy

nypost.com ^ | 12/7/16 | Seth Lipsky

[ColdOne]

The truth is that the Obama years have been among America’s worst for the economy. His eight years will go down in history as the Great Recession, even though for much, even most, of the span, we weren’t technically in a recession.

It just felt that way. And no wonder. Obama’s is the only modern presidency that failed to show a single year of growth above 3 percent, a point Trump stressed during the campaign (and that was conceded even by the Web site Politifact).

Plus, the Obama economy failed to prosper even though the Federal Reserve had its pedal to the metal. Its quantitative easing, $2 trillion balance-sheet expansion and zero-interest-rate policy all produced zilch.

[wastoute]

I’m curious. They say he is now “worth billions”. From what? His day job?

[stocksthatgoup]

The Conman leaveth.

[LouAvul]

How? Twitter? Because the commie news media won’t report it and nobody will hear it. LSM have been hiding truth for decades. That’s why Americans are so stupid. Well, mostly.

[kearnyirish2]

No, but the word will re-emerge (probably to describe anyone making under $100K) to suit the enemedia’s agenda.

[liberalh8ter]

The same way Trump has been getting his message out all along.

[Leep]

Trump is going to report directly to the American people (and the world)
That is why the media has going completely bonkers and soon will be figuratively driving off a cliff.
Trump is circumventing the media with the same velocity the man child obama circumvented the USC.

[TomGuy]

When they compare the last quarter of Obama’s economy (2016) with the last quarter of Trump’s first year (2017), the results will be astoundingly embarrassing for those who thought Obama’s economy was the greatest in 40 years.

The claims of the great Obama economy will crumble just like the rest of his domestic and foreign policies.

Obama’s greatest achievement was to put a smile on Carter’s face by surpassing Carter the worst president in American history.

[<1/1,000,000th%]

Obama forced 40% of publicly traded companies into bankruptcy (over 2000 companies), doubled the national debt to $20,000,000,000,000 (yes, trillion), doubled the number of people on food stamps to 40 million, increased the number of people on social security disability from less than 1 million to over 10 million, increased the number of working age unemployed by 40 million to 100 million, cut medicare and social security several times, and adjusted for inflation, had no growth in the economy for both his terms.

This is worse than any depression the US has ever experienced.

[liberalh8ter]

I agree with you.

[North Coast Conservative]

Even if Obama had not been screwing with interest rates, deficit financing leading to unconscionable increases in the national debt, and other financial mismanagement we are due for a cycle of correction to the economy. Look back in history, you see it every 7 to 11 years.

Unfortunately President Elect Trump will be blamed for it. Which means in four years: Slow Joe Biden, Hillarity, Fauxahontas, the latest black, progressive hero to hit the hill.............

[catsel]

The economy is in bad shape. Market fundamentals are fragile—meaning a chance of a 35% to 65% correction is definitely coming. Over 94 million not in workforce. Expect an economic downturn as soon as Trump takes office so that he can be blamed. Also, in the mix is the Fed’s raising interest rated.

[TomGuy]

Obama’s is the only modern presidency that failed to show a single year of growth above 3 percent,

Obama's legacy advocates have been trying to sell that as the new normal.

[GailA]

UE is 9.3% not the lie FAKE news and DUMBO says it is.

You have to add all factors to get the real #. U E 6 is what you use.
http://www.macrotrends.net/1377/u6-unemployment-rate

[onedoug]

The only thing soebakah’s leaving behind is more enemy islamism.

[Justa]

O’s greatest,, comprehensive legacy, one which affects all of us, is the $10T of debt he ran up.

Results will be higher interest rates and inflation. This will be clear within a year.

The remedy for these is the same as during the Reagan presidency: Property, stocks and gold.

[Colinsky]

All the Fed has done is artificially support Zero. I expect a transient drop when the Fed starts raising rates. When do they next meet?

Janet Yellen is expected to raise interest rates by 0.25% at the Fed meetings of December 13 & 14 next week.

[wastoute]

Thanks! Looking to get back in for the Trump ride up!

[conservatism_IS_compassion]

Trump is going to report directly to the American people (and the world)

. . . via the Internet.

Jack Kelly

People who work at journalism full time ought to be able to do a better job of it than people for whom it is a hobby. But that's not going to happen as long as we "professional" journalists ignore stories we don't like and try to hide our mistakes. We think of ourselves as "gatekeepers." But

there is not much future in being a gatekeeper when the walls are down.

[onedoug]

I’m frankly surprised - and relieved - that he seems to be leaving without having blown us all to bits.

[little jeremiah]

I won’t buy it, I can’t afford to buy hardly anything these days....