Obama Outperforms Reagan On Economy
This isn’t from some left-wing rag but rather, from Forbes. President Obama has done better than Ronald Reagan on jobs, growth and investing. According to Bob Dietrick of Polaris Financial Partners:
Click here for reuse options!“President Reagan has long been considered the best modern economic President. So we compared his performance dealing with the oil-induced recession of the 1980s with that of President Obama and his performance during this ‘Great Recession.’
As this unemployment chart shows, President Obama’s job creation kept unemployment from peaking at as high a level as President Reagan, and promoted people into the workforce faster than President Reagan.
President Obama has achieved a 6.1% unemployment rate in his 6th year, fully one year faster than President Reagan did. At this point in his presidency, President Reagan was still struggling with 7.1% unemployment, and he did not reach into the mid-low 6% range for another full year. So, despite [August]’s number, the Obama administration has still done considerably better at job creating and reducing unemployment than did the Reagan administration.
We forecast unemployment will fall to around 5.4% by summer, 2015. A rate President Reagan was unable to achieve during his two terms.”
Copyright 2014 Liberaland
34 responses to Obama Outperforms Reagan On Economy
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mea_mark September 7th, 2014 at 11:32
The Reagan worshiping republicans are not going to like hearing this, especially now, right before elections. Somebody pass the popcorn.
Abby Normal September 7th, 2014 at 11:44
Yes, but . . . but . . . but. . . President Reagan saved the taxpayers millions of dollars cutting school lunch programs by declaring ketchup to be a vegetable. Those savings alone paid for Nancy’s new White House china.
Suzanne McFly September 7th, 2014 at 11:59
Don’t worry, this will not make faux news. There is no room for truth in that “fair and balanced” inferno.
juicyfruityyy September 7th, 2014 at 13:18
They don’t read. So, therefore, they will never know it had happened.
mea_mark September 7th, 2014 at 14:02
Some democratic super-PAC should use it in a commercial this fall before the elections in general support of democratic policies.
mea_mark September 7th, 2014 at 11:32
The Reagan worshiping republicans are not going to like hearing this, especially now, right before elections. Somebody pass the popcorn.
Abby Normal September 7th, 2014 at 11:44
Yes, but . . . but . . . but. . . President Reagan saved the taxpayers millions of dollars cutting school lunch programs by declaring ketchup to be a vegetable. Those savings alone paid for Nancy’s new White House china.
Suzanne McFly September 7th, 2014 at 11:59
Don’t worry, this will not make faux news. There is no room for truth in that “fair and balanced” inferno.
juicyfruityyy September 7th, 2014 at 13:18
They don’t read. So, therefore, they will never know it had happened.
mea_mark September 7th, 2014 at 14:02
Some democratic super-PAC should use it in a commercial this fall before the elections in general support of democratic policies.
Abby Normal September 7th, 2014 at 11:36
Mr. Dietrick has blasphemed against Saint Ronnie Reagan. He must say 100 Hail Ronnies or lose his eternal soul.
Hail Ronnie,
Full of Grace.
The Tea Party is with thee.
Blessed art thou among right-wingers,
And blessed is the fruit of your speech writers.
http://www.ronniereagan.com
Abby Normal September 7th, 2014 at 11:36
Mr. Dietrick has blasphemed against Saint Ronnie Reagan. He must say 100 Hail Ronnies or lose his eternal soul.
Hail Ronnie,
Full of Grace.
The Tea Party is with thee.
Blessed art thou among right-wingers,
And blessed is the fruit of your speech writers.
http://www.ronniereagan.com
William September 7th, 2014 at 11:52
Yeah, but Obama didn’t drain social security so he could re-commission WWII battleships and other really cool defense programs.
So there.
SteveD September 7th, 2014 at 19:47
1. “If the real interest rate on the public debt is assumed to be greater than the real growth rate, unstable debt dynamics are likely. The offsetting primary surplus that is required for stability is an onerous burden for most countries, and to achieve it in the United States would be practically impossible, since the required cuts would undermine GDP growth and tax revenues.
Where the real interest rate is below the growth rate or even slightly negative, the fiscal balance required for stability is a primary deficit, and the sustainable deficit gets larger as the debt “burden” grows. This is why big countries with big public debts can run big deficits and get away with it, as the United States has done almost without interruption since the 1930s.”-The Levy Institute of Bard College
2. Social Security:
For a while(2011-2012) the FICA tax rate was reduced by 2 percentage points, the Social Security Trust Fund was credited anyway, with the amount that would have been collected.
We could “fix” the trust fund by crediting it with the amount that would be collected if the rate were raised 2 points. Or if the cap were lifted. Or if we were at full employment.
Any of these solutions exposes the true nature of the SS Trust Fund. The problem, if one exists, is not the level of funds in this mythical Trust Fund, it is the ability of the economy to produce when the ratio of workers to retirees falls. It is not a problem of money, it is a problem of real output/productivity.
Fortunately, the problem is framed incorrectly. The crucial ratio is that of workers to dependents, including not only retirees but also children. That ratio is not rapidly falling and it is currently higher than it was in the 1960’s and it will never go lower than it was back then.
William September 7th, 2014 at 11:52
Yeah, but Obama didn’t drain social security so he could re-commission WWII battleships and other really cool defense programs.
So there.
SteveD September 7th, 2014 at 19:47
1. “If the real interest rate on the public debt is assumed to be greater than the real growth rate, unstable debt dynamics are likely. The offsetting primary surplus that is required for stability is an onerous burden for most countries, and to achieve it in the United States would be practically impossible, since the required cuts would undermine GDP growth and tax revenues.
Where the real interest rate is below the growth rate or even slightly negative, the fiscal balance required for stability is a primary deficit, and the sustainable deficit gets larger as the debt “burden” grows. This is why big countries with big public debts can run big deficits and get away with it, as the United States has done almost without interruption since the 1930s.”-The Levy Institute of Bard College
2. Social Security:
For a while(2011-2012) the FICA tax rate was reduced by 2 percentage points, the Social Security Trust Fund was credited anyway, with the amount that would have been collected.
We could “fix” the trust fund by crediting it with the amount that would be collected if the rate were raised 2 points. Or if the cap were lifted. Or if we were at full employment.
Any of these solutions exposes the true nature of the SS Trust Fund. The problem, if one exists, is not the level of funds in this mythical Trust Fund, it is the ability of the economy to produce when the ratio of workers to retirees falls. It is not a problem of money, it is a problem of real output/productivity.
Fortunately, the problem is framed incorrectly. The crucial ratio is that of workers to dependents, including not only retirees but also children. That ratio is not rapidly falling and it is currently higher than it was in the 1960’s and it will never go lower than it was back then.
granpa.usthai September 7th, 2014 at 12:11
considering the BOOST to the US ECONOMY that Reagan’s amnesty program created, you gotta wonder what the real agenda of the current Republicans are. While many, most, all the elite do very well during economic recessions and depressions, it doesn’t do the USA as a nation any good at all. You’d think that everyday blue and white collar workers would catch on and start to unionize?
The elite Republicans PROSPER during economic recessions/depressions
do you?
juicyfruityyy September 7th, 2014 at 13:17
I still depend on my penny collection to survive.
granpa.usthai September 7th, 2014 at 12:11
considering the BOOST to the US ECONOMY that Reagan’s amnesty program created, you gotta wonder what the real agenda of the current Republicans are. While many, most, all the elite do very well during economic recessions and depressions, it doesn’t do the USA as a nation any good at all. You’d think that everyday blue and white collar workers would catch on and start to unionize?
The elite Republicans PROSPER during economic recessions/depressions
do you?
juicyfruityyy September 7th, 2014 at 13:17
I still depend on my penny collection to survive.
Obewon September 7th, 2014 at 13:03
“President Reagan has long been considered the best modern economic President.” St Ronnie raised taxes 11 times and POTUS Obama just tied Bill Clinton’s US record 54 consecutive months of private jobs growth! CBS http://www.cbsnews.com/news/ronald-reagan-myth-doesnt-square-with-reality/
Top Ten: 1 St. Reagan “raised taxes in 7 of his 8 years in office,” 2 Nearly tripled the federal budget deficit to +189%! 3 Unemployment soared after Reagan’s 1981 tax cuts as income inequality exploded! 4 Grew the size of the federal government tremendously. 5 Didn’t fight a woman’s right to choose. 6 Peacenik “[m]y dream…became a world free of nuclear weapons.”-Un-ratified Treaty, unlike Nobel PP Winner Obama’s ratified “New Start.” 7 Gave amnesty to millions of undocumented immigrants. 8 Illegally funneled weapons to Iran. 9 Vetoed comprehensive anti-Apartheid act. 10 Reagan helped create the Taliban and Osama Bin Laden. http://thinkprogress.org/politics/2011/02/05/142288/reagan-centennial/
Dwendt44 September 8th, 2014 at 13:18
Let’s not forget that one of those 11 tax increases was the largest in history, even by today’s standards.
Obewon September 7th, 2014 at 13:03
“President Reagan has long been considered the best modern economic President.” St Ronnie raised taxes 11 times and POTUS Obama just tied Bill Clinton’s US record 54 consecutive months of private jobs growth!
Top Ten: 1 St. Reagan “raised taxes in 7 of his 8 years in office,” 2 Nearly tripled the federal budget deficit to +189%! 3 Unemployment soared after Reagan’s 1981 tax cuts as income inequality exploded! 4 Grew the size of the federal government tremendously. 5 Didn’t fight a woman’s right to choose. 6 Peacenik “[m]y dream…became a world free of nuclear weapons.”-Un-ratified Treaty, unlike Nobel PP Winner Obama’s ratified “New Start.” 7 Gave amnesty to millions of undocumented immigrants. 8 Illegally funneled weapons to Iran. 9 Vetoed comprehensive anti-Apartheid act. 10 Reagan helped create the Taliban and Osama Bin Laden. http://thinkprogress.org/politics/2011/02/05/142288/reagan-centennial/ CBS http://www.cbsnews.com/news/ronald-reagan-myth-doesnt-square-with-reality/
Dwendt44 September 8th, 2014 at 13:18
Let’s not forget that one of those 11 tax increases was the largest in history, even by today’s standards.
juicyfruityyy September 7th, 2014 at 13:19
Congrats, President Obama. Give yourself a pat on the back.
juicyfruityyy September 7th, 2014 at 13:19
Congrats, President Obama. Give yourself a pat on the back.
Terry September 7th, 2014 at 14:31
Well done, Mr. President.
Thank you!
Terry September 7th, 2014 at 14:31
Well done, Mr. President.
Thank you!
SteveD September 7th, 2014 at 20:02
GDP grew more than twice as much under Reagan as it has under Obama. Under Reagan (real) incomes went up across the board, even with the highest rates of inflation in the country’s history. Under Obama incomes for the middle class and the poor have gone down. Drastically. 95% of the income gains in the past six years have gone to the upper 1%. Thanks Obama (and Republicans).
mea_mark September 7th, 2014 at 20:42
Obama has done a lot of good things. One area where he has totally failed though is with the hard working poor. It is time for Obama to quit caring about what the rich think or want and care about the people of this country that actually do the work to make it great.
SteveD September 7th, 2014 at 20:02
GDP grew more than twice as much under Reagan as it has under Obama. Under Reagan (real) incomes went up across the board, even with the highest rates of inflation in the country’s history. Under Obama incomes for the middle class and the poor have gone down. Drastically. 95% of the income gains in the past six years have gone to the upper 1%. Thanks Obama (and Republicans).
mea_mark September 7th, 2014 at 20:42
Obama has done a lot of good things. One area where he has totally failed though is with the hard working poor. It is time for Obama to quit caring about what the rich think or want and care about the people of this country that actually do the work to make it great.
SteveD September 8th, 2014 at 21:53
It arguably explains the Dems’ superior economic performance: they get voted in at bottoms, so they get credit for the ups.
Sort of gives a much deeper meaning to Carville’s “It’s the Economy, Stupid.”
SteveD September 8th, 2014 at 21:53
It arguably explains the Dems’ superior economic performance: they get voted in at bottoms, so they get credit for the ups.
Sort of gives a much deeper meaning to Carville’s “It’s the Economy, Stupid.”