Economic Growth Rates

The folks at Power Line addressed this in Presidential term aggregates; I thought I’d graph the GDP rates in each year of the last five Presidents’ terms.  The data for the graph were collected from here.

Aside from the fact that economic growth is poorer in Obama’s administration than it was in any of the preceding four Presidents’ terms, stretching back over 32 years, President Barack Obama’s performance year by year (first year compared to each of the others’ first year, second year compared to second year, and so on) generally has been poorer, also.  It’s certainly true that Obama’s first year was a continuation of President George Bush the Younger’s last, but so has each of those Presidents’ first years been continuations of their predecessors’ last years.  And President Ronald Reagan’s first year was a continuation of President Jimmie Carter’s last year—which was 3.8 points lower at 8.8% and declining from Carter’s prior years.

This also contrasts with Obama’s predecessors having had to work with the opposing political party controlling at least one house of Congress for significant portions of their terms, just as Obama has done.  Those Presidents, though, sought implementable bipartisan solutions rather than Obama’s “my way or no way” and “evil, obstructionist Republicans” attitudes.

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