Sunday, March 22, 2015

Obama's Failure to Get 3% Annual GDP Growth: The Damning Legacy of Keynesian Economics.

The New York Post reports:
There hasn’t been a single year of 3 percent GDP since the crisis seven years ago — and there’s not a single year of 3 percent GDP on the horizon, per the Fed’s estimates.

If the Fed is correct, that will be a 12-year period with no growth above 3 percent GDP. We haven’t seen one since 2005.

Prior to this, America has never gone more than four years without at least one 3 percent GDP year, and that was during the Great Depression years of 1930-33.

Therefore, this is the first time in US history that a president has the distinction of not having at least one 3 percent GDP year, let alone a two-termer.

President Obama has less than two years to validate his economic policy with at least one 3 percent year.

Yet the Fed is projecting that the economy will slow down, not grow.
Facts are stubborn things. Keynesianism and Barack Obama are economic failures that no honest historian can "airbrush" away. For a look at how proud Barack Obama is of less than 3% annual GDP growth click on this Huffington Post interview.