after including the latest figures for growth on Thursday, the economy has expanded at annual rate of 1.8 percent under President Obama, half the pace of growth in the first five years of the Clinton administration,and below the 2.5 percent annual growth rate for President Bush between December 2000 and December 2005 in the same years.Before the Welfare-Warfare State: economic growth was much higher. This is a big embarrassment for socialists like Obama.
The rise in disposable per capita income has also been weaker, inching up just 0.6 percent annually in the last five years, compared with almost 2 percent from 1993 to 2008.
Unemployment has come down sharply recently, but at 6.7 percent, it is still roughly two percentage points higher than at this time in the Clinton and Bush presidencies.
Thursday, January 30, 2014
The New York Times reports:
Posted by Steve Bartin at 11:45 PM