Quarterly GDP growth under Obama hit record 5.2 percent

[LS1Z28]

2% yearly growth after worst economic crisis since 1929? Impressive

The financial crisis ended in 2009. Over the next 5 years we averaged 2.14% GDP growth.
The great depression ended in 1939. Over the next 5 years we averaged 14.08% GDP growth.

Of course it isn't really fair to compare the two situations due to the fact that the post depression recovery was bolstered greatly by WW2. It still leaves you scratching your head wondering how we didn't have some big bounce back years under Obama though.

 

[exGOPer]

The financial crisis ended in 2009.

It ended in June 2009, middle of the year - technically.

Over the next 5 years we averaged 2.14% GDP growth. The great depression ended in 1939. Over the next 5 years we averaged 14.08% GDP growth.

Considering the average growth prior to Obama was 1.8%, that's pretty good record for Obama considering he never got any stimulus after ARRA, in fact spending was cut immediately in 2011 budget which is opposite of what should be done after a recession.

Secondly, there was absolutely no restriction on federal spending in 1939 until the start of WWII which explains the GDP spurt. Debt exploded during that period, nobody cared.

Of course it isn't really fair to compare the two situations due to the fact that the post depression recovery was bolstered greatly by WW2. It still leaves you scratching your head wondering how we didn't have some big bounce back years under Obama though.

I already explained this, Obama wasn't allowed to expand deficits - he had to contain them and mandatory spending cuts had to be signed for passing budgets. Republicans shut down the government crying about the debt which if you notice is not an issue at all nowadays.

 

[LS1Z28]

This is really dishonest, why don't you state the deficits and the economy they inherited before peddling such a dishonest picture?

What was the state of the economy and the deficit Dubya handed Obama?

And then do the same for Trump.

This is the kind of weak bothsideism that has resulted in the mess, if Republicans continued Clinton's policies of not spending generously on the military, maintaining tax revenues, the debt would have been almost paid off.

It's very true that every president inherits a unique situation. Obama had a huge mess to fix when he became president. He did what he needed to fix it, and the deficit expanded significantly. Towards the end of his presidency, the deficit dropped off.

Trump inherited a much better economy. But he also inherited an economy that had averaged 1.5% GPD growth per year over the past 8 years, and it was coming off 1.6% in 2016. Trump did what he needed to get GDP growth up. He cut taxes and loosened regulations. The deficit has increased, but we're hitting GDP numbers that many thought weren't possible anymore.

Trump claims the tax cuts will pay for themselves. I have my doubts, but I'll wait a few years before passing judgement. If it were up to me, there would be cuts across the board and congress wouldn't be allowed to pass a budget unless it was balanced. We can't keep running up debt like an idiot with credit cards.

 

[Tony Stark]

He did what he needed to fix it, and the deficit expanded significantly. .

When Obama came into office the deficit was 1.2 trillion and it went to 1.4 trillion,just a 200 billion dollar increase.When he left the deficit was 600 billion.

Trump has increased the deficit 400 billion already,twice that of Obama and when he leaves unlike Obama it wont be lower but much higher.Trump inherited a good economy and low unemployment he should have focused on reducing the deficit like Obama did but like other republican presidents his top priorities were cutting taxes for the rich and increasing military industrial complex spending.

The true effects of a Trumps tax cuts hasnt been realized yet.When a recession hits and tax revenues decrease while Trumps increased spending stays the same the deficit will explode just like it did under Bush leaving another democrat president to fix the mess again.

 

[UsualName]

Let us all not forget the economy actually added more jobs in Obama’s last 21 months than Trump’s first 21 months.

 

[Tony Stark]

Let us all not forget the economy actually added more jobs in Obama’s last 21 months than Trump’s first 21 months.

While the deficit was decreasing.

 

[Nine_Ender]

The financial crisis ended in 2009. Over the next 5 years we averaged 2.14% GDP growth.
The great depression ended in 1939. Over the next 5 years we averaged 14.08% GDP growth.

Of course it isn't really fair to compare the two situations due to the fact that the post depression recovery was bolstered greatly by WW2. It still leaves you scratching your head wondering how we didn't have some big bounce back years under Obama though.

You're all over the place here; your posts are illogical. The financial crashes were late 2008 and late 1929. You can't fast forward 10 years through a Depression and make that Obama's theoretical starting point.

 

[LS1Z28]

You're all over the place here; your posts are illogical. The financial crashes were late 2008 and late 1929. You can't fast forward 10 years through a Depression and make that Obama's theoretical starting point.

Sorry if I was unclear. The depression started in 1929 and ended in 1939. The financial crisis started in 2007 and ended in 2009. I compared the 5 years following the end of the depression (1940-1944) to the 5 years following the financial crisis (2010-2014).

 

[LS1Z28]

When Obama came into office the deficit was 1.2 trillion and it went to 1.4 trillion,just a 200 billion dollar increase.When he left the deficit was 600 billion.

https://www.thebalance.com/deficit-by-president-what-budget-deficits-hide-3306151
Take a look at year by year deficit by president. The final deficit Bush left Obama ballooned to over a trillion dollars in an attempt to curb the financial crisis, but he had an average deficit of about $300 billion per year in the 7 years prior to that.

The average deficit under Bush: $416,375,000.
The average deficit under Obama: $793,250,000.
The average deficit under Trump: $908,500,000.

It's clear we've been headed in the wrong direction for a long time. I'm worried about what could happen in the future as well, but I'll wait and see how things play out before I judge Trump.

 

[wildchild]

Sorry if I was unclear. The depression started in 1929 and ended in 1939. The financial crisis started in 2007 and ended in 2009. I compared the 5 years following the end of the depression (1940-1944) to the 5 years following the financial crisis (2010-2014).

Why would you argue with these people? These are people who actually claim that Hillary won the 2016 election. You can present all the facts you want, but facts do not matter to these people.